Hedge fund industry endures worst year to date in 2008
The hedge fund industry endured its worst year to date in 2008, losing 18.3% on average across all strategies, despite a marginal 0.4% gain in December, data from Hedge Fund Research has shown, according to a report in the Financial Times.
Energy and materials represented the worst performing strategy group, down 37% for the year with fixed income-convertible funds losing 34.6%.
Short bias emerged as, by far, the best performing strategy class, capitalising on plummeting equity markets to soar 28.3%, the FT report said.
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