It’s been another tough year for hedge funds, according to researched compiled by Goldman Sachs. The typical hedge fund is up by about 4 percent this year through August 9. By contrast, the S&P 500 Index, including dividends, has risen by about 20 percent over that same period.
The trends we saw last year have only gotten worse for the hedge funds in 2013. In 2012, hedge funds posted an average gain of 8 percent, while the S&P with reinvested dividends posted a return of 16 percent.
Goldman’s research looked at more than 700 hedge funds. Among that group, less than 5 percent of them have outperformed the S&P 500 so far this year. But 25 percent of them have actually lost money in 2013.
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