Hedge Funds’ Bets on Health, Tech Hit Hardest, Investors Say

Hedge funds with exposure to health care and technology stocks are among the worst hit as markets plunge, said Troy Gayeski, senior portfolio manager at SkyBridge Capital, which allocates about $13.4 billion to hedge funds.

Declines in those sectors have particularly hurt managers who invest in stocks and those who make bets on corporate events including mergers and spinoffs, Gayeski said today in a phone interview. Those losses are likely to be temporary, he said.