Hedge funds post the best performance this year since 2013
Add BT as a preferred source[NEW YORK] Hedge funds gained 4.9 per cent on average in the first three quarters of 2019, the best performance in this span since 2013, according to a report on Monday from Hedge Fund Research. Equity strategies are leading the gains, followed by event-driven on an asset-weighted basis.
Managers have improved their performance during a year that Brexit woes, a US trade war with China and an impeachment inquiry of President Donald Trump have roiled markets. At this time last year, hedge funds on average had gained only 1.7 per cent.
Hedge funds mostly weathered September's momentum-factor reversal, eking out a tiny gain for the month and third quarter.
As the global economy slows, the fourth quarter could pose challenges for managers. Last year, hedge funds took a beating in the final quarter as the stock market tanked the most in about eight years.
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