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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (22418)	10/29/1998 9:53:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116753

Hedge funds post dismal Q3 results EDGE funds finished the third quarter with their worst showing since 1994, but many of the volatile funds remained ahead of stock market indices for the year, investment research and consulting firm TASS Management Ltd said on Tuesday. "This is a bad quarter and a bad year for hedge funds. However, hedge funds traditionally can deliver comparable returns to the stock market with about half the risk," said Hunt Taylor, executive director of TASS. Hedge funds -- unregulated investment pools for the wealthy -- have been plagued by bad news in recent weeks, most notably the US$3.5 billion (S$5.7 billion) bailout of troubled US hedge fund Long-Term Capital Management arranged by the Federal Reserve. The Fed has downplayed further attempts to try to regulate hedge funds, with Fed governor Roger Ferguson urging caution about new attempts at regulation at a conference on Tuesday. TASS said funds that trade the bonds of emerging market nations were the worst performers in the first three quarters, with average losses of 35.66 per cent. Emerging funds were also the weakest performers in the third quarter, down 26.97 per cent on average, the report noted. Earlier in the day, financier George Soros announced he would shut down his US$1.5 billion emerging markets hedge fund, which has lost 31 per cent of its value so far this year. Comparably, stocks of investment banks and brokerage firms were down 40 per cent in the third quarter, Mr Taylor said. Hedge funds reported negative returns in all but two categories in the third quarter, according to the report. -- Reuters business-times.asia1.com.sg