(Bloomberg) The first-quarter numbers are in for several of the biggest hedge fund managers who invest billions of dollars across strategies and asset classes. For the most part, the results are underwhelming.
Of six major funds for which returns were available, all underperformed the broader global equity market, which rallied the most in nine years last quarter. With bond indexes also gaining, the pressure on hedge funds to prove their mettle — and justify their fees — continues. The average multi-strategy hedge fund gained 1.24 percent, according to preliminary asset-weighted estimates by Eurekahedge.
