Hedge funds have had a strong year, resulting in an increase in satisfaction among investors this year. However, the third quarter brought a significant reversal as hedge funds' favorite long positions underperformed.
Q3 2021 hedge fund letters, conferences and more
Hedge Fund Stocks Underperform
According to Goldman Sachs' Hedge Fund Trend Monitor, a record stretch of underperformance by the most popular long positions has weighed on returns. Goldman noted that U.S. equity hedge funds are up 13% year to date but only 3% in the last six months due to weakness in the most popular stocks.
Additionally, the summer was a challenging one for Chinese ADRs, which weighed on hedge fund portfolios....
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