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Hedge Funds Lost a Record 7.9% in Pandemic-Plagued First Half

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Photographer: NanoStockk/iStockphoto

Hedge funds lost a record 7.9% in the first half of the year on an asset-weighted basis, according to Hedge Fund Research Inc.

None of the four major strategies made money as the industry struggled to trade with the Covid-19 pandemic convulsing global markets. Event-driven funds were the worst performers, losing 9.6%. Relative-value funds posted the smallest decline, at 5.1%. The losses for the period were the steepest ever in data going back to 2008, according to HFR data released Wednesday.