Pensions & Investments – After the comparatively halcyon days for hedge fund investors in the 12 months ended June 30, storm clouds are brewing as chief investment officers and investment consultants calculate the impact on pension portfolios of negative third-quarter hedge fund returns.
For the year ended June 30, the HFRI Fund Weighted Composite index returned 11.5%. The first six months of 2011 didn’t greatly reward many hedge fund managers, but was at least benign with flat to moderately positive returns for most multistrategy and single-strategy managers. The HFRI Fund Weighted Composite index returned 0.76% year-to-date June 30.
