Thursday, 21 August 2014
Last updated 11 hours ago
Sep 7 2010 | 8:26am ET
Hedge funds inched up in August, avoiding the steep decline suffered by the broader markets last month.
The average hedge fund returned 0.17%, according to Hedge Fund Research’s HFRX Global Hedge Fund Index. By contrast, the Standard & Poor’s 500 Index fell 4.7% on the month.
Systematic diversified funds enjoyed by far the strongest August of any strategy tracked by the HFRX indices, rising 5%—a welcome turnaround from July, when the strategy was the worst performer, losing 4.05% as the average fund rose 1.23%. Systematic diversified funds are up 5.31% on the year.
Convertible arbitrage placed a distant second in August, up 1.56% (5.14% year-to-date), followed by macro (1.45% in August, down 1.53% YTD) and fundamental growth funds (1.32%, down 4.24% YTD).
Multi-strategy relative value is the strongest strategy through eight months, up 5.83% on the year after adding 0.74% in August.
On the other hand, equity market neutral funds were anything but last month, dropped 3.78% to wipe out the average fund’s year-to-date gains, leaving the HFRX index down 1.81%. Also losing ground in August were absolute return funds (down 0.84% in August, down 2.14% YTD), fundamental value funds (down 0.83%, down 0.46% YTD) and special situations funds (down 0.78%, down 0.21% YTD).
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note