Hedge funds hurt Friday, as the stock sell-off hit them harder on a relative basis yet again, a Morgan Stanley research piece concludes. Separate research shows the biggest hedge fund winners -- systematic CTAs -- benefited largely from trend extension. In fact, many of the mid-term players were well positioned coming into the event.
Also see top hedge fund letters to investors
Most equity-based hedge funds hurt, outpaced stock indexes to the downside
Looking at the panoply of strategies and how they were positioned, hedge funds were generally negative Friday. In fact, hedge fund losses were out pacing what was witnessed in major stock indexes. North America and European long exposure “fell faster than the market and faster than shorts on Friday,” John...
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