Tuesday, 21 October 2014
Last updated 3 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).
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…