Volatility spike trips up hedge funds in Q4
Data from Lipper and Credit Suisse shows October and November have not been kind to the hedge-fund world, but annualised performance figures should be good enough.
Just when hedge funds seemed to have gotten the wind in their sails, thanks to a strong summer and robust September, year 2009 is ending on a flat note, albeit not as badly as it had begun.
One industry bellwether is the Credit Suisse/Tremont Broad Hedge Fund Index, which scraped together a rather unimpressive 0.13% gain for October, nearly spoiling eight previous months of positive returns.
And while November saw stock markets resume the 2009 rally, most long/short equity hedge fun…
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