As a whole, equity extension funds failed their mandate to outperform the broader equity markets last year, though individual fund performance ranged from 10 percentage points above the median to 14 percentage points below. According to eVestment Alliance, 130/30s lost a median 37.03% in 2008. When adjusted to include dividends, the Standard & Poor's 500 gave up almost exactly the same amount. CS
2008 PERFORMANCE OF SELECT 130/30 FUNDS
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