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Hedge funds hit by AI sell-off as Asia-focused managers lead losses

Reported · Written up by our desk · Equity Funds

Global hedge funds suffered sharp losses this week as a sell-off in artificial intelligence-related stocks triggered widespread unwinding of positions, with Asia-focused managers among the hardest hit, according to a report by Reuters citing Goldman Sachs prime brokerage data. Global fundamental long-short equity funds recorded losses every day this week, falling 2.9% in the period to 15 October. Despite the decline, the strategy remains up 14.3% year to date. Wednesday saw particularly heavy losses across hedge fund strategies, with global fundamental long-short managers declining 0.9%. Asia-

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