Sunday, 21 December 2014
Last updated 1 hour 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.