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.
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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 struggled in September as its Hedge Fund VIP basket declined 2%. Meanwhile, the Hedge Fund VISP basket was up...
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