Wednesday, 6 May 2015
Last updated 14 hours ago
Jun 9 2010 | 10:47am ET
This year, May stole April’s mantle as the cruelest month, at least for hedge funds. And few places felt that cruelty as acutely as Asia.
Asia ex-Japan hedge funds saw their modest 2010 gains erased last month, with a 4.86% drop leaving them down an average of 3.15%, according to early figures from Eurekahedge. By contrast, hedge funds globally shed only 1.88% and remain up 1.3% on the year. North American and Latin American hedge funds were May’s regional champions—which is not saying much, as hedge funds in those parts of the world lost an average of 0.92% and 0.87%, respectively.
On the other hand, Asian hedge funds easily topped the broader markets. The MSCI World Index had its worst-ever May (it launched in 1969), dropping nearly 10%. The Standard & Poor’s 500 Index shed almost 8% on the month.
And Asia hedge funds also have a long way to go before they prove a bad idea: Last year, the average Asian hedge fund soared 38.08%, according to Eurekahedge.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…