Tech selloff wipes out hedge fund gains, prompting risk cuts and layoffs
Goldman Sachs said tech-focused long-short funds fell more than 4% Thursday as Walleye Capital trimmed its equity business and team.
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Tech selloff wipes out hedge fund gains, prompting risk cuts and layoffs - Regional Media News
By Summer Zhen and Anirban Sen HONG KONG, Nov 6 (Reuters) - A brutal global equity selloff led by technology stocks has wiped out year-to-date gains at many hedge funds, while forcing some managers to cut risks and reduce investment teams. The post-midterm relief rally [...]
Tech selloff wipes out hedge fund gains, prompting risk cuts and layoffs
HONG KONG, Nov 6 : A brutal global equity selloff led by technology stocks has wiped out year-to-date gains at many hedge funds, while forcing some managers to cut risks and reduce investment teams.The post-midterm relief rally proved short-lived. Thursday's market rout compounded losses across the industry,
October's stock market turmoil has hit American hedge funds hard. Several large fund companies are abandoning strategies and laying off staff, while funds are reducing their positions faster than in over a decade. The Wall Street Journal reports. The losses are spreading from AI and healthcare stocks to high-risk bonds. The positive year became a negative year Many funds performed strongly at the beginning of the year but began to lose ground du…
Several large funds experienced significant drawdowns, some even turning negative for the year, subsequently laying off staff, returning funds, and adjusting their strategies.
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