May Hedge Fund Performance Update
This past Friday was the last day to submit hedge fund redemption requests for Q2, and we have heard of bloodbaths at several of the more prominent asset managers that have underperformed the S&P. Which ones these are, we will let people decide courtesy of the most recent HF performance update from HSBC. As indicated, it is not pretty, with many of the recent high-fliers now becoming fast-plungers. As expected, many of the underperformers have stopped reporting recent activity with the last documented performance date still stuck in April. If FASB 157 can be suspended for corporates, why should hedge funds be forced to report all of their red ink?