(wire)
Hedge fund investments dip
Hedge funds declined last month, with the Hennessee Hedge Fund Index having dipped 0.50 percent and the Hennessee Long/Short Equity Index having declined 0.86 percent.
This action came amid the S&P 500 having dropped 3.70 percent, the Dow Jones Industrial Average having declined 3.46 percent, and the NASDAQ Composite Index having dipped to 5.37 percent.
According to the co-founder of the Hennessee Group, "January was a challenging month as the equity rally was short-lived and reversed course mid-month. While 2009 was all about market beta, 2010 is going to be a year driven by alpha. Security selection will drive outperformance. We are already seeing greater dispersion and lower correlations, which should benefit hedge funds."
This action came amid the S&P 500 having dropped 3.70 percent, the Dow Jones Industrial Average having declined 3.46 percent, and the NASDAQ Composite Index having dipped to 5.37 percent.
According to the co-founder of the Hennessee Group, "January was a challenging month as the equity rally was short-lived and reversed course mid-month. While 2009 was all about market beta, 2010 is going to be a year driven by alpha. Security selection will drive outperformance. We are already seeing greater dispersion and lower correlations, which should benefit hedge funds."
