Thursday, 24 July 2014
Last updated 8 hours 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).
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…