Friday, 29 May 2015
Last updated 8 hours ago
Oct 3 2008 | 2:56pm ET
The numbers are not in yet, but the Hennessee Group said today that hedge funds will likely experience their worst month in over a decade.
Charles Gradante, managing principal, said the average hedge fund is expected to be down between 5% and 9% for the month.
The Hennessee Group attributes hedge funds’ poor performance to the ban on short selling, credit restrictions and counterparty concerns, fear, and reduced net and gross exposures.
“The significant losses in September for the hedge fund industry are disappointing, but we feel that funds performed as expected as they outperformed the broad equity markets on a relative basis,” said Gradante.
However, Gradante remains optimistic overall.
“This could be one of the best buying opportunities for hedge funds in a decade,” he said.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…