Thursday, 2 October 2014
Last updated 17 hours ago
Mar 8 2011 | 12:44pm ET
Hedge funds posted gains in February but continued to dig themselves a big hole in their race to exceed the broader markets.
The average hedge fund rose an estimated 1.44% last month, the Dow Jones Credit Suisse Hedge Fund Index shows. In January, that benchmark added 0.69%, leaving it up 2.14% on the year.
Unfortunately for hedge funds, that means they aren't making the most of the market rally: The Standard & Poor's 500 Index rose 3.43% in February and is up 5.88% through the first two months of the year.
Convertible arbitrage funds enjoyed the strongest February, adding 3.29% (5.52% year-to-date). Managed futures funds rose 2.56% (1.72% YTD), event-driven multi-strategy funds 1.92% (3.69% YTD), long/short equity 1.73% (2% YTD), event-driven 1.59% (3.42% YTD), global macro 1.26% (0.48% YTD), multi-strategy 1.13% (3.13% YTD) and distressed 1.11% (3.03% YTD).
Risk arbitrage funds added 0.87% on the month (1.77% YTD), fixed-income arbitrage 0.85% (2.54% YTD) and equity market-neutral funds 0.49% (2.29% YTD).
Two strategies lost ground in February. Emerging markets funds shed 0.63% (down 1.01% YTD), while dedicated short-bias funds were mauled by the market bulls, dropping 3.84% (down 4.64% YTD).
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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