Tuesday, 21 April 2015
Last updated 10 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…