NEW YORK ( TheStreet) -- Many companies have been introducing mutual funds that sell short and use other techniques pioneered by hedge funds. If you own a hedge fund, should you dump it and switch to the new mutual funds?Probably not. On average, hedge funds have been outpacing the competing mutual funds. From the beginning of 2003 through the end of June this year, the Morningstar (MORN - Get Report) 1000 Hedge Fund Index returned 7.8% annually, compared with 5.5% for long-short mutual funds, and 4.2% for the S&P 500.
Mutual Funds That Hedge Aren't Hedge Funds
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