Wednesday, 1 April 2015
Last updated 3 hours ago
Oct 12 2010 | 1:37pm ET
A key industry index confirms that hedge funds enjoyed their best month of the year in September, with nine of 10 strategy indices enjoying gains on the month.
The Dow Jones Credit Suisse Hedge Fund Index added 3.23% last month, according to early estimates. While that's just a fraction of the 8.9% jump by the Standard & Poor's 500 Index, the average hedge fund is still ahead of the broader market at 5.78% on the year.
Given the equity market rally in September—the S&P 500's best month since the Great Depression—its no surprise to see stock-heavy strategies doing best last month. Emerging markets hedge funds rose an average of 4.68% (7.63% year-to-date), followed by long/short equity funds (4.5%, 2.53% YTD) and equity market neutral funds (4.3%, down 0.34% YTD). It's also no surprise to see that the month's only loser would be short-bias hedge funds—and they did not disappoint, plummeting 11.77% on the month (down 12.97% YTD).
Event-driven multi-strategy funds were up 4.14% on the month (6.9% YTD). Risk arbitrage funds added an average of 3.88% (5.73% YTD), event-driven funds 3.31% (6.42% YTD) and multi-strategy funds 2.83% (5.04% YTD).
Managed futures funds returned 2.76% in September (6.41% YTD), global macro funds 2.63% (9.21% YTD), distressed funds 2.12% (5.64% YTD), fixed-income arbitrage funds 1.48% (9.69% YTD) and convertible arbitrage funds 1.32% (7.75% YTD).
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…