跟进：趋势跟踪对冲基金遭遇2024年以来最差一周：高盛称系统化多空基金上周跌2%、科技股两周遭抛售200亿美元
据路透社报道，高盛集团（Goldman Sachs）10月26日发给客户的一份报告显示，趋势跟踪型对冲基金上周遭遇2024年以来最差的单周表现：市场对人工智能巨额投入何时能见到回报的担忧再起，引发股票与债券市场剧烈波动。纳斯达克100指数上周下跌5.5%，为2025年4月以来最大单周跌幅，当时美国总统特朗普的「解放日」关税曾搅动全球市场。
高盛报告称，靠算法追随趋势的系统化多空基金上周下跌2%，创2024年以来最差一周；基本面多空基金再跌1.1%。按10月至今计，基本面多空策略下跌3.8%（今年以来仍涨8.8%），系统化策略下跌1.1%（今年以来涨18.7%）。上周领跌的个股之一是 Meta：该公司财报强劲，但表示需要为人工智能投入筹集更多资金，股价全周下跌10%。债券市场同样动荡，投资者涌入相对安全的美国国债，同时抛售法国等财政较脆弱经济体的债券。
报告还显示，个股整体出现7月下旬以来最大规模的降杠杆（缩减总敞口），美国股票已连续第三周被净卖出、过去五周中有四周净卖出；高盛主经纪业务部门统计，过去两周科技股卖盘达200亿美元，接近7月约230亿美元的大规模平仓规模。本站10月16日曾报道，人工智能股票抛售当时已重创全球对冲基金，基本面多空基金那一周下跌2.9%；本轮数据说明，围绕人工智能估值的调整在10月下旬仍在延续。
关联：AI股抛售重创全球对冲基金：高盛称基本面多空基金本周跌2.9%，亚洲基金领跌
Follow-Up: Trend Hedge Funds Post Worst Week Since 2024: Goldman Reports Systematic Funds Down 2% and $20 Billion in Tech Selling Over Two Weeks
Trend-following hedge funds suffered their worst weekly performance since 2024 last week, according to a Goldman Sachs note to clients seen by Reuters on October 26, as concern about when heavy artificial-intelligence spending will pay off ignited volatility across stocks and bonds. The Nasdaq 100 fell 5.5% last week, its biggest weekly drop since April 2025, when President Donald Trump's 'Liberation Day' tariffs roiled world markets.
Systematic long-short funds, whose algorithms ride market trends, fell 2% in their worst week since 2024, while fundamental long/short strategies drew down another 1.1%, Goldman said. For October so far, fundamental long/short strategies are down 3.8% (still up 8.8% this year) and systematic strategies are down 1.1% (up 18.7% this year). Meta led last week's slide in part: the company reported strong earnings but said it would need to raise more capital for its AI investments, and its shares fell 10% on the week. Bond markets were also volatile, as investors sought the relative safety of U.S. Treasuries while selling the debt of more fragile economies such as France.
Single stocks collectively saw the largest de-grossing — a general pulling back in positions — since late July, U.S. equities have been net sold for a third straight week and in four of the last five, and Goldman's prime brokerage desk reported $20 billion in selling of technology stocks over the last two weeks, close to July's roughly $23 billion unwind, the note said. GSM reported on October 16 that the AI selloff had already hammered global hedge funds that week, with fundamental long-short funds down 2.9%; the new figures show the adjustment around AI valuations continued into late October.
来源：GSM·美国（原文链接）
图片来源：图：位于 New York 的高盛全球总部大楼 200 West Street（资料图）。摄影：Rhododendrites，CC BY-SA 4.0，经 Wikimedia Commons。 / The Goldman Sachs global headquarters at 200 West Street in New York (file photo). Photo: Rhododendrites, CC BY-SA 4.0, via Wikimedia Commons.
- 2026-10-16 17:50AI股抛售重创全球对冲基金：高盛称基本面多空基金本周跌2.9%，亚洲基金领跌
- 2026-10-26 07:56跟进：趋势跟踪对冲基金遭遇2024年以来最差一周：高盛称系统化多空基金上周跌2%、科技股两周遭抛售200亿美元本篇
