Tuesday, 1 December 2015
Last updated 19 hours 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).
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…