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Article: Hedge Funds Post Gains in August; Average U.S. Hedge Fund Returns 0.5% Net.
- Article from:
- Business Wire
- Article date:
- September 18, 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)--Sept. 18, 2002
Hedge funds returned to profitability in August with the Average U.S. Hedge Fund gaining 0.5% net of fees, according to George Van, Chairman of global hedge fund advisory firm Van Hedge Fund Advisors International, Inc. The Average Offshore Hedge Fund earned 0.4% net. Unlike June and July, when hedge funds significantly outpaced the faltering stock market, traditional equity investments performed similarly to hedge funds last month. The S&P 500 and Average Equity Mutual Fund gained 0.7% and 0.2%, respectively, while the Dow and NASDAQ posted losses of -0.6% and -1.0%.
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