Monday, 22 December 2014
Last updated 1 hour ago
Aug 3 2011 | 2:13pm ET
Hedge funds' wretched summer continued in July, which the average fund dropping almost 1%, according to one benchmark.
The Credit Suisse Liquid Alternative Beta Index fell 0.95% on the month to cut it's year-to-date return to 2.46%. All four of the LAB strategy indices were also in the red.
"The Credit Suisse Liquid Alternative Beta Index, which aims to reflect the performance of the overall hedge fund industry, generated negative performance in July," Jordan Drachman, head of research for alternative beta strategies. "The long/short equity sectro saw the most significant declines, finishing down 1.69% as uncertainty regarding Greek debt and U.S. debt ceiling negotiations outshone a generally positive Q2 earnings season."
Still, "despite July losses, the strategy remains up 3.43% year-to-date."
The LAB event-driven index fell 1.11% (up 2.8% year-to-date), followed by merger arbitrage (down 0.75% in July, up 3.69% YTD) and global strategies (down 0.6%, up 2.1% YTD).
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.