Monday, 30 March 2015
Last updated 14 min ago
Jun 1 2011 | 10:44am ET
Barring an impressive, improbable and industry-wide turnaround yesterday, the average hedge fund likely posted its second losing month of the year in May.
Hedge Fund Research's HFRX Global Hedge Fund Index was down 1.83% on the month through Friday, the last trading day before the Memorial Day holiday in the U.S. The decline left the index down 0.97% on the year with just one trading day left in the month, the worst for stocks since August.
As is becoming the norm in 2011, the broader markets outperformed the average hedge fund, with the Standard & Poor's 500 Index falling only 1.4%. Some strategies badly lagged the S&P500, with equity hedge funds dropping 3.4% and systematic macro funds 2.13%.
May's malaise even hit Third Point, which hasn't had a down month in almost a year. The New York-based firm's publicly-listed Offshore Investors vehicle fell 0.4% on the month, although it remains up 9.7% on the year, MarketWatch reports.
Also indicating a difficult May was the Man Group, which said its AHL Diversified PCC fund shed about 4.6% between the second and second-to-last days of the month.
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…