Tuesday, 21 October 2014
Last updated 4 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).
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...