Goldman Sachs Says Hedge Funds Had Their Worst Underperformed Against The S&P 500 In More Than 20 Years

Hedge funds had the worst underperformance against the S&P 500 in more than 20 years, according to Goldman Sachs. (Credit: AFP)

Hedge funds had their worst underperformance against the S&P 500 in more than two decades in July, Goldman Sachs said.

"Our Hedge Fund VIP list of the most popular long positions suffered its worst 1-month underperformance vs. the S&P 500 in more than 20 years of history, and July marked one of the sharpest hedge fund de-grossing episodes of the past decade," bank strategists said.