Wednesday, 22 October 2014
Last updated 16 hours ago
Jul 11 2011 | 11:36am ET
The first half ended on a sour note for hedge funds, according to Hedge Fund Research.
The average hedge fund lost 1.22% last month, according to the HFRI Fund Weighted Composite Index. While that's less than the Standard & Poor's 500 Index lost on the month, the broader markets returned 6.01% in the first half, compared to just 0.76% for hedge funds.
Losses last month were broad-based and sent three strategy indices into the red for the year to date. Macro funds were hardest-hit of the main strategies, falling 1.76% in June (down 2.16% year-to-date). Equity hedge funds lost 1.2% on the month (up 1.08% YTD), emerging markets funds lost 1.12% (down 0.27% YTD), event-driven funds lost 1.09% (up 2.87% YTD) and relative value funds lost 0.12% (up 3.16% YTD).
Among substrategies, energy and basic materials funds suffered by far the worst June swoon, falling 3.89% on the month (down 3.8% YTD). Systematic diversified funds fell 2.36% (down 3.22% YTD), Asia ex-Japan funds fell 1.65% (down 3.19% YTD), Russia and Eastern Europe funds fell 1.44% (up 3.74% YTD) and convertible arbitrage funds fell 1.01% (up 0.83% YTD).
Just three strategies were in the black in June: Short-bias, up 4.15% (down 3.87% YTD), yield alternative funds (1.98% in June, 6.81% YTD) and private issue and Regulation D funds (0.91%, 11.11% YTD).
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...