Thursday, 18 September 2014
Last updated 8 min ago
Jun 11 2007 | 11:49am ET
With the Standard & Poor’s 500 reaching record heights last month, hedge funds had a tough act to follow. They didn’t.
The S&P500 rose 3.94% last month, vaulting it ahead of the Hennessee Hedge Fund Index’s year-to-date return for the first time since January at 8.07%. The Hennessee Index added 2.45% last month, and stands at 7.86% year-to-date.
“The strong performance is an indication that many funds have expanded their net exposures and become more fully invested,” managing principal E. Lee Hennessee said, “although short-selling has again become more difficult over the last two months.”
Has it ever: While long/short funds rode the booming equity markets to a 2.39% return in May (7.37% YTD), short-biased was the only strategy tracked by Hennessee in the red, falling 2.67%. It is also the only strategy with a losing 2007, down 6.2%.
Macro was the top-performing strategy among the Hennessee indices, jumping 3.22% (6.3%). Event-driven funds continued their steady returns this year and it remains the best-performing strategy year-to-date, adding 2.2% in May (10.57% YTD).
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.