Hedge Funds Slide 0.88%, Event-Driven Funds Roughed Up

Jul 12 2010 | 2:10pm ET

Hedge funds took a 0.88% hit in June, putting an end to a dismal second quarter, according to Dow Jones Indexes and the Credit Suisse Index Co.

Early estimates show the newly-renamed Dow Jones Credit Suisse Hedge Fund Index—the artist formerly known as the Credit Suisse/Tremont index—ended the first half up 0.59%, not much to crow about, but substantially ahead of the broader markets. In a related note, by far the best performers in the choppy month were dedicated short-bias funds, which soared an average of 4.84% in June (down 3.33% year-to-date).

A handful of other strategies also enjoyed an up month, including fixed-income arbitrage (0.91% in June, 5.49% YTD), global macro (0.53%, 4.15% YTD) and emerging markets (0.49%, down 0.28% YTD). The Dow Jones/Credit Suisse convertible arbitrage index ended the month perfectly flat, to finish the half up 2.64%.

Most strategies weren’t so lucky. Event-driven multi-strategy funds tumbled 2.34% (up 0.6% YTD), long/short equity funds dropped 2.3% (down 3.45% YTD), event-driven funds shed 1.97% (up 1.43% YTD), distressed funds lost 1.49% (up 2.57% YTD) and equity market neutral funds dipped 1.06% (down 4.6% YTD).

The early estimates are based on 77% of the hedge fund assets included in the index reporting.


In Depth

Prominent Hedgie Renee Haugerud Embroiled in Ugly Child Custody Battle

Sep 10 2014 | 2:43pm ET

A high-profile hedge fund manager is caught up in a nasty child custody battle in...

Lifestyle

Full House’s Stamos To Play TV Hedge-Fund Manager

Sep 5 2014 | 4:43am ET

The life of a Connecticut hedge-fund billionaire is coming to the small screen.

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.