Hedge funds witnessed the largest asset decline in the third quarter since the financial crisis of 2008 on uncertainty over the Federal Reserve’s interest-rate policy and worries about China. Hedge fund capital sank by $95 billion to $2.87 trillion at the end of the quarter, according to data from Hedge Fund Research Inc. Tuesday. “The HFRI Fund Weighted Composite Index fell 3.9% in third quarter 2015, extending a four-month drawdown of 5.1% and bringing HFRI performance to minus 1.5% year to date through September,” said HFR. The index, however, still outperformed the S&P 500 by 370 basis points and the Dow Jones Industrial Average by 700 points, the biggest margin since 2008.
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