Hedge Funds August Losses
Hedge Funds Limit Losses to 0.55% in August 2010
The Standard & Poor's 500 Index slumped 4.74% last month, leaving it down 5.9% so far this year. The Barclays Aggregate Bond Index rose 1.29% in August and is up 7.83% year to date, Hennessee noted.
"Hedge funds started the month with reduced net and gross exposure levels, which allowed them to protect capital," Charles Gradante, co-founder of Hennessee Group, said in a statement.
"Managers remain cautious given the global economic uncertainty, though the consensus is that we will likely avoid a 'double-dip' recession," he added.
Gradante also noted that 43% of hedge funds reporting results to Hennessee generated positive performance in August. source