As volatility gripped global markets to start the week, hedge funds stepped in to buy the big dip in technology shares, according to Goldman Sachs Group Inc.’s prime brokerage data.
“Many hedge funds see a selloff as a buying opportunity,” said Jonathan Caplis, chief executive officer at PivotalPath, a hedge fund research firm. “The majority of the managers we speak to are framing the current problems as short-term and sentiment-driven, versus a long-term issue with the fundamentals of listed businesses or even the wider US economy.”