Friday, 27 March 2015
Last updated 2 hours ago
May 10 2011 | 1:30pm ET
Hedge funds enjoyed broad, if unimpressive, gains in April, a pair of industry indices show.
The average hedge fund added 1.86% on the month, according to Hedge Fund Research's HFRI Fund Weighted Composite Index. While hedge funds badly trailed the Standard & Poor's 500 Index's nearly 3% return, even the Lyxor Hedge Fund Index, generally a pessimistic benchmark, rose 1.37% in April.
The former index is up 3.59% on the year and the latter 2.14%.
Both sets of indices showed gains for most hedge fund strategies; indeed, just two of the 23 strategies and substrategies tracked by the HFRI indices lost ground in April.
Systematic diversified funds led the way for HFRI, rising 4.81% on the month (3.39% year-to-date), while commodity trading advisers were the stars for Lyxor, with long-term managers adding 3.61% and short-term managers 1.87%.
Both sets of indices agreed that it was a good month for macro funds: The HFRI Macro (Total) Index rose 3.36% (2.76% YTD), while the Lyxor Global Macro Index was up 1.81%.
Other strong performers, according to the HFRI indices, included technology and healthcare funds (3.04% in April, 7.28% YTD). Emerging markets funds rose 1.63% (2.62% YTD), equity hedge funds 1.21% (3.48% YTD), event-driven funds 1.15% (4.71% YTD) and relative value funds 0.8% (3.13% YTD).
Only fixed-income convertible arbitrage funds and short-bias funds took a hit in April, according to HFR. The former shed 0.89% (up 1.8% YTD), while the latter slumped 3.15% (down 8.69% YTD).
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…