The third quarter brought a spate of volatility to the markets, but most hedge funds rode that volatility to a positive quarterly return. The S&P 500 tumbled 8% over the summer before rebounding and ending the quarter up 5.5%.
Long-only strategies dominated in Q3
Nonetheless, most hedge fund strategies eked out positive third-quarter returns, as evidenced by the HFRX Global Hedge Fund Index returning 2% for Q3, bringing its year-to-date return to 5%. However, a few strategies generated negative returns, with cryptocurrency funds being hit the hardest in Q3.
According to a report from Pictet Trading & Sales based on 13F filings, crypto strategies generated a third-quarter return of -6.2% as bitcoin fluctuated between $53,000 and...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
