European hedge funds rally

By Susan Hogg Despite ongoing market turmoil, hedge funds with a short bias showed significant gains during the later part of 2000, with many managers edging back into the black by the end of October, according to the CSFB/Tremont Hedge Fund Index. The CSFB/Tremont Index is the sector's first asset-weighted index and shows that dedicated short-bias funds led the hedge fund sector during September and October, when they gained an average 10% and 6% in dollar terms, respectively. These gains mean short-bias funds have gained 0.9% in dollar terms in the year to date. Geneva-based Stephan Wo...