Saturday, 20 December 2014
Last updated 1 day 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).
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.