Wednesday, 1 October 2014
Last updated 13 hours ago
Dec 8 2010 | 3:13am ET
There's a split among hedge fund indices for November. While the earliest reporters announced a fairly substantial loss for the average hedge fund, two other industry benchmarks show a small gain for the industry.
The Hennessee Hedge Fund Index rose an estimated 0.2% last month. That's perilously close to negative, and could wind up there, as better-performing hedge funds tend to report their returns earlier than those who did less well.
All told, the Hennessee index is up about 7% this year.
"In general, hedge fund managers feel frustrated with their performance as they have not been able to capitalize on moves within what has been a range-bound market," Hennessee Group co-founder Charles Gradante said. "Many managers have commented that the 2010 year is shaping up to be a macro event-driven market, leaving few opportunities to profit on fundamentals."
Hedge Fund Research's HFRI Fund Weighted Composite Index was slightly less on a knife-edge, rising 0.26% on the month (7.12% year-to-date). The HFRI suite was led in the black column by energy and basic materials funds, which soared 5.2% (12.26% YTD). No other strategy returned more than 1.5%, with Russia and Eastern Europe funds managing 1.49% (11.19% YTD) and asset-backed funds 1.37% (13.09% YTD).
Equity hedge funds rose an average of 1.09% (7.18% YTD), relative value funds 0.37% (10.21% YTD) and event-driven funds 0.26% (8.74% YTD).
The losers were "led" by short-bias funds, which shed another 4.5% on the month and are down 16.15% on the year. Systematic diversified funds lost 2.52% in November (up 4.67% YTD). Macro funds dropped 0.92% (up 4.38% YTD) and emerging markets funds fell 0.28% (9.03% YTD).
The HFRI Fund of Funds Composite Index lost 0.46% on the month and is up 3.04% on the year.
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…
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