Reuters- Funds of hedge funds managers are bracing themselves for poor returns in the first half of the year across many portfolios as fears of a U.S. recession seep into the global economy, a Reuters poll showed.
The quarterly survey of 11 managers, taken January 14-24 while stock markets tumbled and the U.S. Federal Reserve slashed rates, showed a median forecast for below average returns across traditional long/short portfolios, with allocations sharply pulled back.
The median allocation to the long/short strategy was cut to 26-28 percent, down from 30-35 percent in last October’s poll.
