Market turmoil lands hedge funds with big losses

By Sam Jones

Not for the first time, the hedge fund industry has failed to live up to its name.

In a month that has seen equity markets around the world collapse, hedge funds too are facing billions in losses.

 

August, it now seems likely, will be the industry’s worst month since October 2008, when the collapse of Lehman Brothers triggered a worldwide sell-off.

It will almost certainly also be one of the top five worst months for the industry since performance data started to be aggregated in 1990.

According to the latest provisional figures from Hedge Fund Research, the average hedge fund manager has lost 4.1 per cent in the past four weeks.

via Market turmoil lands hedge funds with big losses – FT.com.