Global hedge funds reportedly suffer one of their broadest declines since Covid in stock selloff

After the Oct. 22 stock selloff, global hedge funds suffered one of their broadest declines since Covid, according to Goldman Sachs’ prime brokerage desk, as reported by Bloomberg and carried by The Business Times. Fundamental long/short managers lost 1.4%, systematic long/short managers fell 1.3% and multi-strategy platforms slid 1.9%. Goldman estimated more than two-thirds of hedge funds ended the day down.