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Article: Hedge Funds Remain Ahead of Stocks and Mutual Funds in July; Average U.S. Hedge Fund Holds Loss to -3.0% Net.
- Article from:
- Business Wire
- Article date:
- August 15, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug. 15, 2002
Hedge funds sustained moderate losses in July but again succeeded in outperforming stocks and mutual funds according to George Van, Chairman of global hedge fund advisory firm Van Hedge Fund Advisors International, Inc. The Average U.S. Hedge Fund fell -3.0% net of fees while the Average Offshore Hedge Fund lost -2.3% net. Stocks fared far worse, with major indices hitting levels unseen since 1997 and 1998. The S&P 500 lost -7.8% in July and the NASDAQ plunged -9.2%. The Average Equity Mutual Fund fell -8.9%.
"As was the case the month before, hedge funds were affected by the ...