US hedge funds brace for worst year since financial crisis

BOSTON: U.S. hedge funds are bracing for their worst year since the 2008 financial crisis after a dramatic sell-off in healthcare and biotechnology stocks triggered double-digit losses for some prominent players last month.
September´s sucker punch in the biotech sector, on top of a grim August when global markets tumbled due to fears about slowing growth in China, have pushed many hedge fund managers deep into the red.
"These are some of the worst numbers we have seen since the crisis," said Sam Abbas, whose Symmetric IO tracks hedge fund managers´ returns.