2002 Not a Great Year for Hedge Funds
According to consultants and academics, 2002 will go down as the worst year for hedge funds in almost a decade as slumping stock markets hurt performance and sparked a record number of closures, reports Bloomberg. A fifth of the 1,797 hedge funds tracked by Tremont Advisers Inc. at the start of 2002 stopped reporting their results by the end of October, and most of those funds shut, the consultant said. While the majority of closures have been small funds, there were also the collapses of Lipper & Co. and Beacon Hill. Many believe the current shakeout is good for the industry, as only the most talented investors will be left.
-- from the Village Voice, the weekly newletter of Albourne Village (village.albourne.com)
According to consultants and academics, 2002 will go down as the worst year for hedge funds in almost a decade as slumping stock markets hurt performance and sparked a record number of closures, reports Bloomberg. A fifth of the 1,797 hedge funds tracked by Tremont Advisers Inc. at the start of 2002 stopped reporting their results by the end of October, and most of those funds shut, the consultant said. While the majority of closures have been small funds, there were also the collapses of Lipper & Co. and Beacon Hill. Many believe the current shakeout is good for the industry, as only the most talented investors will be left.
-- from the Village Voice, the weekly newletter of Albourne Village (village.albourne.com)
