FABGM Stocks Save Hedge Funds As Tech Stocks Surge

FANG stocks are not only transforming the world, but they’re also rescuing the hedge fund industry as well. According to Goldman Sach’s latest Hedge Fund Trend Monitor report, the average long/short equity hedge fund has posted a 10% return year-to-date, the strongest performance since 2013. The bulk of this performance has come from funds’ five top holdings, FB, AMZN, BABA, GOOGL, and MSFT, which have outperformed the S&P 500 by 770 basis points year-to-date. [timeless] FB, AMZN, BABA, GOOGL are hot with Hedge Funds Goldman’s report considers the holdings of 804 hedge funds around the world with $2.1 trillion of gross…