Tuesday, 31 March 2015
Last updated 2 min ago
Jun 8 2011 | 10:04am ET
Hedge funds lost an average of 1.28% in May, their first losing month in nine and their largest drop in exactly one year, according to figures from Hedge Fund Research.
The decline leaves the HFRI Fund Weighted Composite Index up 1.92% on the year. Losses last month were widespread, with only seven of the 28 strategies and substrategies tracked by HFRI above water in May.
Systematic diversified funds suffered the worst month, losing 3.65% (down 1.17% year-to-date), followed by market defensive funds of funds (down 3.34% in May, down 2% YTD) and energy and basic materials funds (down 3.18%, up 0.28% YTD). Among major strategies, macro funds fell 2.54% (down 0.69% YTD), emerging markets funds fell 1.97% (up 0.77% YTD), equity hedge funds fell 1.08% (up 2.48% YTD) and event-driven funds fell 0.47% (up 4.27% YTD).
Funds of hedge funds lost 1.46% on the month (up 0.66% YTD).
The much-less numerous winners were led by asset-backed hedge funds, which added 1.06% (5.72% YTD). Technology and healthcare funds rose 0.71% (7.79% YTD) and short-bias funds 0.31% (down 7.64% YTD). Relative value funds were up 0.27%.
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…