Saturday, 10 October 2015
Last updated 5 hours ago
Feb 8 2007 | 11:48am ET
Hedge funds started 2007 the same way they ended 2006: trailing the Standard & Poor’s 500.
For the first time, HedgeFund.net’s HFN Hedge Fund Aggregate Average returned less than the S&P500 in January, 1.45% to 1.51%. HFN attributes the slow start to managers taking a more cautionary stance.
Among individual strategies, healthcare, event-driven and small- and micro-cap funds had the happiest New Year, with returns of 3.92%, 2.27% and 2.22%, respectively. Strong performances were also turned in by multi-strategy, distressed and convertible-arbitrage funds, at 1.86%, 1.71% and 1.56% on the month. Convertible arb’s January was the 15th straight positive month for the strategy.
Meanwhile, last years’ champions, emerging markets and energy, got off to a slow start, with the former returning 0.95% and the latter just 0.02% in January. CTAs and managed futures funds rose 1.14% on the month.
The equal-weighted HFN averages include the 7,000 hedge funds, funds of funds and CTAs in the HFN database.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…