Saturday, 20 September 2014
Last updated 16 hours ago
Mar 7 2007 | 11:39am ET
Hedge fund returns dipped slightly last month after global stock markets were roiled in February’s closing days, according to figures from Hedge Fund Research.
The firm’s HFRX Global Hedge Fund Index declined 0.21% in February, cutting its year-to-date return to 1.29%. Its absolute return index was in the black for the month (up 0.37% in February, 1.65% YTD), but its market directional index took a tumble (down 1%, up 0.37% YTD). Still, hedge funds did less badly than the broader markets, as the Standard & Poor’s 500 fell by almost 2% in February, leaving it down 0.47% in 2007 to date.
Merger arbitrage remains the strategy to beat in 2007, as it added another 1.55% in February to hit 3.71% on the year. Distressed securities (up 1.04%, 2.48% YTD), equity market-neutral (up 0.86%, 3.34% YTD) and convertible arbitrage (up 0.82%, 1.67% YTD) also posted strong months. Event-driven (up 0.6%, 2.72% YTD) and relative-value arbitrage (up 0.5%, 2.15% YTD) were also in positive territory for the month.
Not so lucky was the HFRX Macro Index, which was hammered in February, falling by 3.43% to obliterate January’s gain, leaving it down 2.89% for the year. Equity hedge was also in the red, but only by -0.21% (it’s up 1.26% YTD).
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.