Aug
03
AIG Curtails Event-Driven, Long-Short Bets at Hedge Funds
By-
Hedge fund gains decline by 36 percent to $174 million
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Insurer cites changing conditions, market opportunities
American International Group Inc. reduced bets on event-driven and long-short strategies as the insurer scaled back hedge fund investments.
Event-driven holdings were cut 41 percent to $700 million, while investments in long-short declined 25 percent to $2.24 billion in the first half of the year, among the hedge fund assets measured at fair value as of June 30, the New York-based company said late Tuesday in a quarterly filing…
AIG Curtails Event-Driven, Long-Short Bets at Hedge Funds
