Hedge funds in a bear market

Comparing the major equity markets of the world from the start of April 2000 until mid-October 2001 shows there has been no place to run. The worst performing index has been the MSCI Far East ex Japan, which dropped -49.3% over that time. The MSCI Japan dropped around -45%, MSCI Europe -30%, the S&P Composite sank -27% and the FTSE All-Share dipped -26%. The best performing market over this period has been South Africa but even SA has seen a dollar loss of -21.7% Martin Harrison, director of mutual funds for GAM, says: 'However well you have done for your clients, telling your clients t...