Hedge funds to record more closures than launches for fifth straight year


by BNN

BNN— The pain kept coming for hedge funds in 2019: if they weren’t being killed off, they were bleeding cash or wringing out dismal returns.

Zero Hedge—It Was A Dismal Year For Hedge Funds: Here Are 2019's Fund Closures And Family-Office Conversions. It Was A Dismal Year For Hedge Funds: Here Are 2019's Fund Closures And Family-Office Conversions All things considered, it wasn't a terrible year for hedge funds who unlike 2018, when the average hedge fund was down almost double digits on the year, are up roughly 10% YTD according to the latest Goldman hedge Fund Trend monitor

markets.businessinsider.com—The hedge fund landscape shrinks for a 5th straight year as investors rebel against weak returns. The hedge fund industry saw more closures than openings for the fifth year in a row in 2019, Bloomberg reported Monday, citing data from Hedge Fund Research Inc. Investors are quickly fleeing the high-risk funds for cheaper vehicles as the record-long bull market continues to boast steady gains. The S&P 500 is up about 29% year-to-date, while the Bloomberg Equity Hedge Fund Index has only gained 10% in the same period. Among the funds closing their doors to outside investment in 2019 include...

markets.businessinsider.com—A formerly dominant hedge fund lost 35% last year after repeatedly betting against the record-setting stock market. The Horseman Global Fund, run by career contrarian Russell Clark, lost 35% in 2019, its worst year ever, Bloomberg reported Thursday. The record loss was driven by Clark's bets against the longest-ever bull market. The S&P 500 gained 29% last year, its best performance since 2013.  Now, Clark is in a race against time to save the fund, which had about $241 million in assets at the end of November, down from the $1.7 billion it held in 2015.  Read more on Business Insider. Russell Clark's...