Hedge fund liquidations still on the rise as returns remain firmly in the red

The great financial crisis seemed to be the source of an industry reckoning, but COVID-19 is a whole new reality that hedge fund managers are still assessing.

Active managers are not faring well, according to new figures from Credit Suisse Prime Services. The brokerage firm estimates that equity long/short funds will be down 3% for the year-to-date through June, while event-driven strategies will be -9.7% over the same time frame.

“Since early March, both performance and positioning data indicate a sub-set of strategies and funds engaged markets tactically . . .

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