Thursday, 18 December 2014
Last updated 9 min ago
Aug 15 2011 | 2:48pm ET
Hedge funds were bruised but not broken by this month's dizzying market volatility, according to Credit Suisse and Dow Jones Indexes.
The Dow Jones Credit Suisse Core Hedge Fund Index fell 3.66% through Wednesday, Aug. 10, increasing its year-to-date loss to 4.54%. But those losses were positively modest compared to the 13% that the Standard & Poor's 500 Index fell during the same period.
"Despite challenging conditions, hedge funds appear to have so far been effective in their attempt to provide a level of capital preservation, and overall have limited losses relative to perceived riskier asset classes such as equities," Oliver Schupp of the Credit Suisse Index Co. said.
Six of the seven strategies tracked by Credit Suisse and Dow Jones were in the red during the first third of August, with only managed futures funds escaping with a 1.83% gain (0.82% year-to-date). Long/short equity and event-driven funds were hardest hit, losing 6.55% (down 6.22% YTD) and 5.08% (down 7.83% YTD), respectively.
Emerging markets funds slid into the red with a 3.8% drop (down 0.32% YTD), while global macro funds lost a further 3.38% (down 7.42% YTD). Convertible arbitrage funds lost an average of 2.75% (down 2.89% YTD) and fixed-income arbitrage funds 0.56% (up 1.46% 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.