Hedge funds posted best quarter since 2009

Hedge funds are getting a pickme-up from the stock market and rebounding from a harsh 2018 to their best quarterly performance in a decade.

Managers returned 5.9 per cent on a fund-weighted basis, posting their strongest showing since the third quarter of 2009, according to Hedge Fund Research Inc. The long-short equity strategy led the pack, gaining 7.9 per cent.

“For a lot of the strategies there is a dependency on the markets and the ongoing relatively benign economic environment that we live in,” said Ian Haas, Neuberger Berman’s head of quantitative and directional strategy research. “It does seem like a supportive environment for risk-taking.”