The Wall Street firm found that there are six 'shared favorites' among hedge funds and mutual funds last quarter.
The market has been a fertile stock picking environment for mutual funds and hedge funds this year, and Goldman Sachs said it found a handful of stocks loved by both cohorts. The Wall Street bank analyzed the holdings of 744 hedge funds with $2.4 trillion of gross equity positions as well as the holdings of 528 mutual funds with $2.8 trillion of assets under management at the start of the third quarter, based on regulatory filings.
However, they tend to have a strong, longer-term track record of outperformance. An equal-weighted list of shared favorites has generated an annualized return of 14%, compared to 13% for the S & P 500. It also has a 59% monthly hit rate of outperformance, Goldman said. Stocks have been driven by company-specific news this year, as opposed to the macroeconomic environment, Goldman said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street Journal reporter Evan Gershkovich appeals extension of pretrial detention in RussiaWall Street Journal reporter Evan Gershkovich has appealed a Moscow court’s decision to extend his pretrial detention in Russia until the end of November.
Read more »
Wall Street Journal reporter Evan Gershkovich appeals extension of pretrial detention in RussiaWall Street Journal reporter Evan Gershkovich has appealed a Moscow court's decision to extend his pretrial detention in Russia until the end of November.
Read more »
Wall Street Journal reporter Evan Gershkovich appeals extension of pretrial detention in RussiaWall Street Journal reporter Evan Gershkovich has appealed a Moscow court’s decision to extend his pretrial detention in Russia until the end of November.
Read more »
Wall Street Journal reporter Evan Gershkovich appeals extension of pretrial detention in RussiaWall Street Journal reporter Evan Gershkovich has appealed a Moscow court’s decision to extend his pretrial detention in Russia until the end of November.
Read more »
Wall Street Journal reporter Evan Gershkovich appeals extension of pretrial detention in RussiaWall Street Journal reporter Evan Gershkovich has appealed a Moscow court’s decision to extend his pretrial detention in Russia until the end of November, according to documents on the court&…
Read more »