Tremont hedge sees record long/short capital outflow

Hedge funds covered by Tremont Tass Research experienced their first net outflow of capital for more than two years in the last three months of 2002. Tass hedge fund outflows were $696m in the fourth quarter of last year but long/short equity strategy was the biggest loser, at $2.8bn, followed by event driven and global macro. Barry Calvin, CIO of Tremont Advisers, said long/short inflows are still up on an annual basis despite the falls in the fourth quarter. 'There was significant activity by investors in long/short equity funds but they were nervous last year and many did not want ...