Hedge funds were dogged by steep, albeit somewhat smaller, redemptions in January, HedgeFund.net reported. At positive 0.2%, performance also improved somewhat. Meanwhile, the Standard & Poors 500 Index dropped 8% in January.
Hedge funds lost $124.7 billion in redemptions in the month, bringing assets 5.8% lower to $1.748 trillion. In December, hedge fund redemptions totaled $200 million. That was a big spike from the $133 billion in redemptions in November.
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The Internal Revenue Service is extending tax relief on required minimum distributions from inherited retirement accounts not made in 2024 after providing similar relief in recent years.
