Tuesday, 21 October 2014
Last updated 3 hours ago
Jul 5 2011 | 2:22pm ET
Hedge funds suffered their second-straight losing month in June, as stocks also followed their down May with a red June.
The average hedge fund dropped 1.59% last month, Hedge Fund Research's HFRX Global Hedge Fund Index shows. The benchmark is down 2.12% on the year.
The Standard & Poor's 500 Index was down 1.67% in June, but the broader market index remains up 6% on the year.
Systematic diversified funds were particularly hard-hit, dropping 3.49% on the month (down 6.4% year-to-date). Macro funds didn't do much better, losing 2.35% in June (down 2.14% YTD).
Equity hedge funds were down as much, falling 2.36% (down 8.32% YTD). Fundamental value funds shed 2.57% and are down 9.95% on the year.
Not every strategy is in the red on the year—although almost all were down in June. Special situations funds were up 2.25% in the first half despite losing 1.52% on the month, while multi-strategy relative-value arbitrage funds were up 1.92% (down 0.39% YTD).
The one strategy not to lose ground in June, equity market neutral, was up 2.72% after rising 0.89% last month.
Event-drive funds lost 1.31% on the month but were up 1.44% over the year. Merger arbitrage funds lost 1.52% in June but are up 2.25% this year. Convertible arbitrage funds are up 1.64% in the first six months of 2011 after dropping 1.21% in June, and relative value funds are up 1.39% after losing 0.51% on the month.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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