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From Kirsten Bischoff, Opalesque New York:
The research group at MondoHedge (www.mondohedge.com) analyzed the performance of Italian hedge funds during the first half of 2009 and found that the industry has been thriving, with managers delivering the best performance since 2002.
The findings present a strong argument for adapting a long-term investment horizon into hedge funds, rather than looking to invest in the short term through performance chasing of strategies or managers. MondoHedge reports that to look at the period spanning January 2002 to June 2009, Italian funds of hedge funds returned 12.73% compared to the S&P 500 at -19.93% or the DJ Eurostoxx at -29.09%.
"...hedge funds show once again their ability to fulfill their mission to provide medium-to-long term capital protection for investors, thus rebutting once again accusations that they are 'speculative and risky investments," says Stefano Gaspari, CEO at MondoHedge.
Redemption constraints
Italian funds, while proving their ability to preserve capital and to outperform the larger markets over time, were affected by the market illiquidity. According to MondoHedge's research, 56 of the 249 Italian funds tracked by the firm found it necessary to establish side pockets. However, funds that have established these vehicles have also been working to liquidate them ...................... To view our full article Click here
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