Sunday, 26 April 2015
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).
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…