Tuesday, 23 September 2014
Last updated 9 hours ago
Feb 10 2011 | 12:22pm ET
Hedge funds got off to a slow start in 2011, at least compared to the soaring stock market.
The average fund rose 0.4% in January, according to the Greenwich Global Hedge Fund Index. By contrast, the Standard & Poor's 500 Index added 2.4% last month.
Market-neutral strategies—especially in the event-driven and arbitrage arenas—did best. Arbitrage funds added an average of 1.5% and event-driven funds 1.4%. Fixed-income arbitrage funds had an especially strong month, returning 2%, the best of any strategy or sub-strategy tracked by the Greenwich Strategy Group Indices.
Long/short equity funds had a perfectly average month, rising 0.4%. Opportunistic funds rose 1.1%, while short-biased funds dropped 1.2% in the face of rising markets. Long/short credit funds did better than their stock-trading brethren, returning 1.2% in January, while multi-strategy funds rose 0.4%.
Macro funds suffered a difficult January, losing 0.8%, while futures funds dropped 0.5%.
Regionally, the Americas were the place to be at the beginning of 2011: Funds focused on the region's developed markets rose 0.8%. Emerging markets funds rose 0.5%, with emerging Europe leading the way at 2.8%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.