Goldman: September wasn’t a great month for large hedge funds

Global hedge funds were down 0.7% in September, according to Goldman Sachs’ Hedge Fund Performance and Positioning report for the month. Asset-weighted results were about 60 basis points worse than the simple average, which the firm said suggests large firms underperformed their smaller counterparts. That marks a reversal of the trend observed in July and August. Q3 2019 hedge fund letters, conferences and more Concentrated positions hurt long/ short equity Long/ short equity funds were down 0.9% for September despite the fact that the world’s equity markets rallied during the month. Goldman Sachs said both long and short concentrated positions…