09/09/18

FAANG Avoiding Funds Just Had Their Worst Month Since 2009



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FAANG Avoiding Funds Just Had Their Worst Month Since 2009
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For professional investors, August was the cruelest month.

In the month when the S&P 500 cleared a new all time high, rising above 2,900 for the first time ever while setting a new record as for the longest "bull market", hedge funds were dazed and confused by the market action, suffering another month of sharp underperformance, and sending their YTD return back into negative territory according to the HFRX equity hedge index.

But it wasn't just hedge funds who suffered the painful short squeezes and sector rotation that prompted Nomura to observe a "multi-month performance disaster for US equity funds": according to Bank of America, "plain vanilla" large cap mutual funds also struggled to ....

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