Wednesday, 20 August 2014
Last updated 7 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).
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