Sunday, 29 March 2015
Last updated 2 days ago
Jun 8 2011 | 10:54am ET
Credit Suisse Index Co. President Oliver Schupp called May "a challenging month for hedge fund managers." And was it ever, according to Schupp's indices.
All seven of the Dow Jones Credit Suisse hedge fund indices took a dive last month, pushing the Core Hedge Fund Index down 1.71%. Schupp blamed "relatively low volatility levels, higher intra-stock correlations and continued market sell-offs" for the "difficult trading environment.
May's losses wiped out April's gains and then some, leaving the Core index up just 0.87% on the year. By contrast, the Standard & Poor's 500 Index is up 7.8%.
Managed futures and global macro funds took it on the chin in May, dropping 4.4% (down 1.56% year-to-date) and 2.52% (down 0.95% YTD), respectively. Things weren't much better elsewhere: Long/short equity funds lost 1.58% (up 1.84% YTD), event-driven funds lost 1.29% (up 1% YTD) and emerging markets funds lost 0.97% (up 2.49% YTD).
Convertible arbitrage funds dropped 0.65% in May (up 1.89% YTD). Indeed, the best that can be said of the month's best performer—fixed-income arbitrage—is that the strategy was essentially flat, dropping just 0.03% on the month (up 2.17% 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…