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North American funds ended 2018 with their worst month post-crisis, with losses of 3.29 percent in December as equity markets were impacted by the Federal Reserve’s interest rate hike, data provider Eurekahedge reported.
Hedge funds returned on average 0.43 percent during the first seven months of 2018, the worst performance since 2008 when hedge fund returns declined 0.23 percent during the same time period, according to data provider Eurekahedge.
The average hedge fund returned 3.14 percent in the first half of 2017. Almost 75 percent of managers showed positive returns and another 18 percent outperformed such equity benchmarks as the MSCI AC World Index, data provider Eurekahedge reported.
Hedge funds declined 0.48 percent overall in October, the first monthly loss after seven months of gains. Despite the negative returns, hedge funds overall outperformed underlying equity markets, such as the MSCI AC World Index, which was down 1.38 percent last month.
The percentage of hedge fund launches domiciled in the Cayman Islands has declined slightly in recent years, according to a report on key trends in hedge funds in 2015 by data provider Eurekahedge.