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Hedge funds gain little from rally sparked by US-China trade deal
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Global hedge funds reaped limited gains from a big Wall Street stock rally triggered by a US-China agreement on tariffs on Monday, a Morgan Stanley note on Tuesday showed.
Hedge funds rose 0.60% on average on Monday, underperforming the S&P 500 index, which advanced 3.23% and closed at its highest level since March 26.
Morgan Stanley said global portfolios are less invested in the United States than in the last two years, as hedge funds and other investors shifted funds to other regions after U.S. President Donald Trump started a global trade war…
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