Tremont hedge funds experience record long/short capital outflow

Hedge funds covered by Tremont Tass Research have experienced the first net outflow of capital for more than two years, but the asset class still looks strong, according to Steven Jupp of Tremont.

Tass-covered hedge funds lost $696m in the fourth quarter of 2002 with long/short equity the biggest loser at $2.8bn, followed by event driven and global macro.

Commenting on the record long/short equity outflow, Barry Colvin, president and CIO of Tremont Advisers, said there was significant activity by

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