Wednesday, 20 August 2014
Last updated 4 hours ago
May 6 2010 | 10:59am ET
As in March, hedge funds in April posted broadly positive returns. And as in March, hedge funds again trailed the broader markets, according to Hedge Fund Research.
The average hedge fund rose 0.8% last month, the HFRX Global Hedge Fund Index shows. That's well behind March’s 1.38% return and also lagged the Standard & Poor’s 500 Index, which rose 1.57% in April.
Year-to-date, the benchmark is up 2.45%, well behind the S&P500, which is up 7.05% on the year.
As in March, almost all strategies were in the black. Just two, in fact, posted losses: Equity market-neutral funds shed 0.38% (up 0.63% year-to-date) and macro funds dropped 0.7% (down 0.1% YTD).
Leading the way last month were distressed securities funds, which added an average of 2.25% in April (7.67% YTD—the only HFRX index currently ahead of the S&P500). Multi-strategy relative-value arbitrage funds also had a strong month, adding 1.79% (6.86% YTD).
Fundamental growth funds returned 1.4% in April (down 3.64% YTD), convertible arbitrage funds returned 1.35% (3.55% YTD), relative value arbitrage funds as a whole returned 1.34% (4.02% YTD) and multi-region funds returned 1.28% (3.62% YTD).
Equity hedge funds added an average of 1.04% on the month (1.37% YTD), event-driven funds rose 0.82% (3.12% YTD), special situations funds returned 0.65% (3% YTD), absolute return funds added 0.58% (down 0.73% YTD) and merger arbitrage funds jumped 0.44% (2.19% YTD).
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note