Event-Driven Hedge Funds 2010

Event-Driven Hedge Funds 2010

Event-Driven Hedge Funds Gained 16% in 2010

Event-driven hedge funds had an impressive last year, according to a study done by the Hennessee Group. Flexibility was the key to the 16% gains made by hedge funds in 2010.
Last year, flexibility was the key to outperforming in hedge funds, according to a study by industry consultant Hennessee Group. In a report out today, it says that managers who keyed on moving as events seemed to dictate rather than business fundamentals or other more general themes, did best in 2010.

Such “directional” hedge fund strategies were the primary drivers of portfolio performance last year, Hennessee found. Behind event-driven managers were those that focused on distressed situations. The third-best performances were turned in by funds taking an emerging markets approach.

Directional strategies tend to use less hedging. In 2010, funds with event-driven approaches returned an average of 16.2%. Distressed managers produced returns of 14.76% while emerging markets-focused hedge funds generated 13.65% returns last year, according to the study. Source

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