Friday, 25 July 2014
Last updated 23 min ago
Dec 17 2010 | 12:43am ET
Hedge funds inched up last month, but still badly trail the broader markets with just a month to go in 2010.
The RBC Hedge 250 Index rose 0.25% in November. The benchmark, which tracks nearly 4,000 single-manager funds, is up just 4.05% through the first 11 months of the year; the Standard & Poor's 500 Index has advanced almost twice as much.
As has been true for the year to date, fixed-income arbitrage funds were the big winners during a quiet November. RBC's index for the strategy added 1.87% last month and is up 18.33% on the year, more than twice as much as the next-best strategy.
Convertible arbitrage funds also did well last month, rising 0.74% (4.12% year-to-date). Long/short equity funds returned an average of 0.5% (3.32% YTD) and credit funds 0.48% (8.66% YTD). Multi-strategy funds added 0.24% (5.37% YTD), while equity market-neutral funds used November's 0.2% gain to erase their year-to-date losses; the strategy is now flat through 11 months.
Macro funds were basically flat for the month, rising 0.07% in November (0.32% YTD).
Two strategies went backward in November: Managed futures, which lost 0.72% (up 4.29% YTD), and mergers and special situations, which lost 0.49% (up 6.11% 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…