Friday, 19 September 2014
Last updated 8 hours ago
Mar 16 2007 | 12:25pm ET
Distressed securities and emerging markets hedge funds were good places to be last month, but nothing beat an investment in merger arbitrage, which outstripped all other strategies by a wide margin in February, according to Hedge Fund Research.
The firm’s HFRI indices, which track a total of 6,500 products, show merger arb up 2.92% last month and 5.24% year-to-date. Distressed securities (1.61% in February, 3.17% YTD) and emerging markets (1.45%, 2.91% YTD) were a distant second and third.
The overall HFRI Fund Weighted Composite Index rose 0.66% during the difficult month, bringing it to 1.81% on the year. No strategy was in the red; the worst performer was the relative flat HFRI Macro Index (0.05%, 0.59% YTD).
Fund of funds returns were somewhat more muted, the HFRI Fund of Funds Composite Index returning 0.80% on the month (2.08% YTD). Predictably, given the market plunge at the end of February, market defensive funds of funds did the best, returning 1.08% (2.03% 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.