Hennessee: September Worst Month For Hedge Funds In Decade

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. 


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.