Friday, 26 December 2014
Last updated 1 day ago
Dec 9 2010 | 12:41pm ET
Hedge funds lost some ground last month, dragged down by several strategies that took it on the chin in November, according to Dow Jones Indexes and Credit Suisse.
The Dow Jones Credit Suisse Hedge Fund Index lost an estimated 0.28% on the month, with 79% of the index's constituent assets reporting. Overall, the index is up 7.72% on the year.
Most of the decline can be attributed to bad months for three strategies: managed futures, which lost 4.09% (up 6.45% YTD), equity market-neutral, which lost 3.16% (down 3.19% YTD) and dedicated short bias, which lost 1.88% (down 17.22% YTD). No other strategy tracked by the indices gained or lost more than 1% in November.
Fixed-income arbitrage enjoyed the best month, for what it's worth, with a 0.64% return (11.69% YTD). Long/short equity funds added 0.58% (5.78% YTD), multi-strategy funds 0.37% (7.53% YTD), event-driven multi-strategy funds 0.23% (9.35% YTD), convertible arbitrage funds 0.16% (9.83% YTD), event-driven funds 0.15% (8.38% YTD) and distressed funds a microscopic 0.06% (7.06% YTD).
Rounding out the losers were global macro funds, down 0.84% (up 10.15% YTD), risk arbitrage funds, down 0.65% (up 2.81% YTD), and emerging markets funds, down 0.58% (up 9.47% YTD).
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.