Friday, 30 January 2015
Last updated 17 min ago
Jul 20 2010 | 12:10pm ET
School’s out for summer, but the French business school Edhec says it went out with a whimper, at least for hedge funds.
All but five of Edhec’s 12 hedge fund strategy indices took a dive last month. Long/short equity funds, in particular, wilted in the summer heat, dropping 1.69% (down 1.8% year-to-date), followed closely by event-driven funds, which dropped 1.29% (up 2% YTD).
Distressed securities funds shed 1.01% (down 4.5% YTD), equity market-neutral funds 0.47% (up 0.7% YTD), emerging markets funds 0.4% (down 0.8% YTD), global macro funds 0.27% (up 0.5% YTD) and relative value funds 0.26% (up 2% YTD). Funds of hedge funds dropped 0.82% and are down 1.3% through the first half.
The leaner bright side featured short-selling funds, which soared 4.05% last month (down 0.5% YTD), fixed-income arbitrage funds, which gained 0.9% (4.4% YTD), merger arbitrage funds, which added 0.37% (1.7% YTD), convertible arbitrage funds, which rose 0.29% (3% YTD) and CTA global funds, which edged up 0.2% (down 0.5% YTD).
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…