Monday, 29 December 2014
Last updated 2 hours ago
May 11 2010 | 11:44am ET
April proved a pretty good month for hedge funds, even if they again found themselves trailing the broader markets.
The average hedge fund rose 1.49% last month, according to early returns from the Credit Suisse/Tremont Hedge Fund Index. That’s just a hair behind the Standard & Poor’s 500 Index, which returned 1.57% on the month.
Year-to-date, things aren’t quite as close: The CS/Tremont Index is up 4.63%, well behind the S&P500’s 7.05%.
Still, all but two of the 12 strategies and sub-strategies tracked by the Credit Suisse Index Co. found themselves in positive territory in April, and all but two are positive through April. The only losers have been dedicated short-bias (down 3.41% in April, down 12.45% year-to-date) and equity market neutral (down 0.23%, down 0.95% YTD).
Event-driven funds proved the best bet for early spring, rising 2.28% (7.16% YTD). Multi-strategy event-driven funds did especially well, jumping 2.76% on the month to hit 7.48% on the year, the best mark for 2010’s first four months.
Managed futures funds also did well, rising 2.21% in April (4.35% YTD). Global macro funds added 2.03% (4.65% YTD), fixed-income arbitrage funds 1.93% (5.56% YTD) and convertible arbitrage funds 1.7% (5.29% YTD). Distressed funds were up 1.65% (6.75% YTD).
Emerging markets funds returned 0.97% on the month (3.63% YTD), followed by long/short equity (0.16%, 2.95% YTD) and risk arbitrage (0.13%, 1.53% YTD).
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.