Monday, 28 July 2014
Last updated 2 days ago
Nov 9 2010 | 12:12pm ET
Hedge funds added 1.34% in October as they attempt to finish an uneven 2010 on a strong note, according to the Dow Jones Credit Suisse Hedge Fund Index.
Early estimates have the benchmark up 7.41% on the year, well ahead of the Standard & Poor's 500 Index, which is up 6.11%. All but one of the Dow Jones/Credit Suisse strategy benchmarks was up last month, led by managed futures funds with an estimated average return of 3.46% (10.11% year-to-date).
Coming in a distance second were long/short equity and event-driven multi-strategy funds, both up 1.75% on the month. The former is up 4.29% on the year and the latter 8.66%. Enjoying nearly as strong an October were convertible arbitrage funds, which added an estimated 1.74% (9.4% YTD).
The only loser last month was dedicated short-bias, which has continued to be blasted by the equity market rally. The strategy shed a further 3.07% in October and is now down 15.17% on the year. Only one other strategy is in the red year-to-date, equity market neutral, which is down 0.86% after rising 0.09% last month.
By contrast, three strategies are in double-digits for the year with two months to go. Fixed-income arbitrage funds are up 10.62% after rising 0.78% last month, global macro funds are up 10.48% (1.07% in October) and managed futures funds are up 10.11%.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…