Sunday, 25 January 2015
Last updated 1 day 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).
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…