Hedge Funds

Hedge funds bleed in early October


At October's midpoint, hedge fund managers who managed to keep above water could count themselves lucky. On the back of a strong September, the early weeks of October turned bloody, with many brand-name funds across a broad range of strategies losing ground as September's trends partially reversed. All performance numbers are estimated, through October 14, unless otherwise noted.

With the broad U.S., European and Asian stock markets in decline, preliminary data show that both global and U.S. long/short equity funds were caught holding the wrong cards. Class A shares of Lazard Global Opportunities fell 5.82%, virtually wiping out its