The first half of this year again brought hedge funds little relief from their historically poor performance.
Hedge funds began 2014 coming off their fifth-straight year of trailing U.S. stocks by some significant margins. And based on data through June 30, it doesn’t look like this year is shaping up to be much better. The latest data show that investors continue to pour money into hedge funds, which had total assets under management at the end of April of $2.9 trillion, a new record.
Despite ample evidence of their underperformance, hedge funds continue to attract great attention from investors. I’ll never stop asking, Why? And instead of the hype and hope that investors so often hear from hedge fund managers, I’ll simply continue to provide you with the hard data on their performance.
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