If you think hedge funds were bad in July, just look at their August numbers. Hedge funds reached new lows last month surpassing July as the poorest month in 2007 for the performance of hedge fund strategies, according to the latest figures from the Dow Jones Hedge Fund Indexes
Only one of the six strategies (merger arbitrage) covered by the index posted any net-of-fees gains (0.42%) last month. The strategy is up 14.59% for the year.
Other strategies such as convertible arbitrage, distressed securities, equity long/short and equity market neutral fell in August, declining more than 1%, while event driven was down -0.21% for the month.
On the bright side, all the strategies are still up for the year.
Genna GarverBy Genna Garver, John Brunjes, and Cheri Hoff of Bracewell & Giuliani -- On Oct. 27 the Private Fund Investment Advisers Registration Act of 2009 (H.R. 3818) moved one step closer to becoming law with the 67-1 approval of the U.S. House of Representatives Committee on Financial Services (the "Bill"). More...
Investors this week announced the formation of NewWorld Capital Group, a private equity firm that will invest in middle-market companies and related infrastructure projects in the cleantech sphere. More...