Equity Hedge Funds Fail to Beat Benchmarks Despite Tech Boost
- Greenlight, Schonfeld and Pershing ran near back of the pack
- Light Street, Glenview and Whale Rock had double-digit gains
As a group, stock-pickers gained 7.9% during the first three months of the year.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Stock-picking hedge funds gained more than any other major strategy in the first quarter thanks to some high-flying tech names — and it still wasn’t good enough to beat the markets.
As a group, stock-pickers gained 7.9% during the first three months of the year, according to PivotalPath’s Equity Sector Index. The S&P 500 and Nasdaq Composite Index returned 10.6% and 9.3%, respectively.