Report: hedge funds not trimmed but slashed - Spear's Magazine

Report: hedge funds not trimmed but slashed

US advisory group Hennessee says September will be the worst month for hedge funds in a decade.

US advisory group Hennessee says September will be the worst month for hedge funds in a decade.

“September 2008 will prove to be one of the most challenging months in the history of hedge funds,” said managing principal Charles Gradante. “We expect the average fund to be down between five and nine percent for the month.”

Activist funds have been particularly hard-hit, but data from Hedge Fund Research indicate that not a single fund strategy made money for its investors in September. Those that invest in convertible bonds and shares lost 16.6 percent of their value, those investing in equities lost 8.6 percent, and events-driven funds lost 7.4 percent.

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