Tuesday, 30 September 2014
Last updated 12 min ago
Apr 19 2011 | 11:51am ET
Another pair of hedge fund indices confirms the findings of most of their peers: March was not a month for the record books.
The average hedge fund fell 0.32% last month, according to the RBC Hedge 250 Index. That shoulder-shrugging conclusion is drawn from the highly-mixed performance of the hedge fund strategies tracked by RBC Capital Markets.
The best performer on the month, fixed-income arbitrage, added just 0.49% in March (4.47% year-to-date). Just two other strategies were in the black on the month, with convertible arbitrage funds adding an average of 0.39% (6.19% YTD) and event-driven credit funds 0.31% (3.55% YTD).
Of the more numerous losers, only managed futures funds suffered a big drawdown, shedding an average of 2.35% in March (down 0.61% YTD). All other strategies saw more modest losses: macro funds dropped 0.69% (down 0.98% YTD), equity market neutral funds 0.31% (up 0.22% YTD), equity long/short funds 0.15% (up 1.74% YTD), multi-strategy funds 0.1% (up 1.81% YTD) and mergers and special situations funds 0.05% (up 2.68% YTD).
Those ho-hum numbers were backed up by French business school Edhec's own hedge fund indices. Convertible arbitrage funds rose 0.23% on the month to cement its status as the best-performing strategy of the first quarter at 3.7%. Other quarterly returns were markedly less robust: equity market neutral funds added 0.91%, long/short equity funds 0.21% and event-driven funds 0.17%.
As in the RBC index, managed futures funds were the worst performers on the month, with Edhec's commodity trading adviser global strategy down 1.67% on the month and 0.57% on the year. Funds of hedge funds dropped 0.11% on the quarter.
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…
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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.