Thursday, 2 October 2014
Last updated 1 hour ago
Sep 8 2011 | 1:50pm ET
August was an unforgiving month for all but one hedge fund strategy, according to Hedge Fund Research.
The HFRX Global Hedge Fund Index fell 3.47% last month, leaving it down 5.61% on the year. Twelve of the suite's 13 strategy indices followed the main index into the red, with only systematic diversified funds managing a gain, of 0.71% (down 1.03% year-to-date).
Equity hedge fund funds were particularly hard hit as the Standard & Poor's 500 Index fell almost 6% in August. Fundamental value funds lost an average of 7.53% (down 17.1% YTD) and fundamental growth funds 5.95% (down 6.6% YTD). Equity hedge funds overall lost 5.64% (down 14.22% YTD).
Event-driven funds shed 4.05% on the month (down 3.3% YTD), followed by distressed securities funds (down 4.03% in August, down 3.78% YTD) and special situations funds (down 3.69%, down 2.09% YTD). Relative value arbitrage funds lost 3.58% in August (down 1.98% YTD).
Among major strategies, only macro escaped most of the carnage, falling just 0.09% (down 0.99% YTD). Following the brutal month, only one HFRX index remains in positive ground for the year, multi-strategy relative value arbitrage funds, which are up 0.09% on the year after losing 2.37% in August.
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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