Friday, 22 May 2015
Last updated 55 min ago
Oct 20 2010 | 2:42am ET
September was a good month for hedge funds all around the world.
The French business school Edhec’s suite of hedge fund indices did very well last month, with only one suffering a loss. Emerging markets funds had the strongest month with a 4.63% return, followed by equity long/short, which added 4.26%. Event-driven funds rose 2.94%. Equity market-neutral funds had their best month in a decade, returning 1.81%.
Only short-sellers did poorly during the best September for the Standard & Poor’s 500 Index and Dow Jones Industrial Average since the Great Depression. Such funds lost 8.63% on the month.
Funds of hedge funds added 2.2%, as well, bringing them out of the red on the year.
Canadian and Australian hedge funds were no exceptions to the global rule. The former returned an average of 3.58% last month, according to the Scotia Capital Canadian Hedge Fund Performance Index. The index is up 9.16% on the year.
“Gains were muted relative to broader financial markets, however, due to hedge fund managers’ relatively low gross and next exposures,” Scotia explained.
Down Under, hedge funds also failed to match the broader markets. The Australian Fund Monitors Hedge Fund Index returned 3% in September. The index is up 3.2% on the year.
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…