Goldman Sachs data showed that global hedge funds were hit by their most widespread decline since the COVID-19 pandemic as a stock market sell-off spread across strategies. All three major equity strategy groups fell by more than 1% on the same day. By Thursday’s close, global fundamental long/short funds were down 1.4%, while funds focused on telecommunications, media and technology posted an average decline of 2.7%. Global systematic long/short funds fell 1.3%, and multi-strategy platforms dropped 1.9%. The figures were cited in a ChainCatcher news brief.
Global hedge funds suffered their most widespread decline since the COVID-19 pandemic, according to Goldman Sachs data cited by ChainCatcher, as a stock market sell-off weighed on performance.
All three major equity strategy groups fell by more than 1% on the same day. By Thursday’s close, global fundamental long/short funds were down 1.4%. Funds focused on telecommunications, media and technology fell 2.7% on average. Global systematic long/short funds dropped 1.3%, while multi-strategy platforms declined 1.9%.
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