19:53 GMT +307 December 2019
Listen Live
    Dollars

    Hedge Funds Suffering Record Losses Worldwide

    © Flickr / 401K 2012
    Business
    Get short URL
    2294
    Subscribe

    Hedge funds lost $78 billion worldwide in August 2015. This is a record loss since the 2008 financial crisis, DWN wrote.

    Hedge funds are suffering under “a merciless sell-off” and market turbulence, the newspaper reported, citing the Investment.com.

    The market turbulence has had negative a impact on the portfolio of major investors and therefore resulted in financial losses for hedge-funds worldwide.

    "The only thing that seemed to work was cash. Of course that's the one thing they [the hedge funds] don't have," financial expert Paul Brain said, cited by CNBC.

    Funds specializing in stock picking were mostly affected by the downturn. For instance, Greenlight Capital — a hedge fund founded in 1996 – lost about 17% of its assets.

    Market volatility reached its peak at the end of August, leading to a fall in stock prices and a slowdown in the global economy.

    Related:

    Iran Prepares for Foreign Investment Onslaught After Sanctions Subside
    FEMA Lacks Strategy to Guide Disaster Recovery Investment
    Europe Run by 'Puppets' Misses Investments in Russia – Czech Lawyer
    Tags:
    economic slowdown, financial loss, hedge funds
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik