Wednesday, 6 May 2015
Last updated 1 hour ago
Jan 7 2011 | 9:14am ET
Hedge funds ended 2010 with a 1.7% gain as stocks surged into 2011.
The average hedge fund added 7% last year, according to the Bloomberg Aggregate Hedge Fund Index. That put the index at its highest level in more than two years—since August 2008, to be precise, just before hedge funds began their serious financial crisis swoon—but it badly trailed the broader markets, finishing the year with less than half the return of the Standard & Poor's 500 Index, which added more than 15% last year.
Despite a 6.7% jump for the S&P500, short-sellers were actually the best-performing strategy in December, adding 3.1% (7.5% year-to-date). By contrast, mortgage arbitrage funds had the slowest month but the best year, returning 24% in 2010 but just 0.1% in December.
Long/short equity funds added an average of 2% in December (9.3% YTD), while macro funds returned 1.2% (2.2% YTD). Multi-strategy hedge funds returned an average of 1.4% last month, but finished the year in the red, down 2.9%.
Statistical arbitrage funds suffered the worst December of all, dropping 4.3%. But the decline wasn't enough to send it to a losing 2010; the strategy ended last year up 0.4%.
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…