US hedge funds get defensive in a market where energy rules the roost

US long/short

US equity hedge fund managers have exited a difficult summer into a stream of slightly better economic announcements, although many await election results on 2 November.

Andrew Gibson, managing director at London's International Asset Management, said low volatility and thin volumes affected many equity portfolios over summer.

Old Mutual Asset Management's (OMAM) US Specialist Equity Fund, managed by Terry Ewing and Ann Hall and using a process identifying macro-economic and micro-economic the