Monday, 22 December 2014
Last updated 18 hours ago
Feb 8 2012 | 10:56am ET
Hedge funds added 2.51% in January 2012, trailing the S&P 500 which added 4.36%, according to the Hennessee Hedge Fund Index.
“After several months of treading water, managers posted profits as stocks rallied on fundamentals, being driven less by macroeconomic and political news and more by underlying company specific fundamentals,” said Charles Gradante, co-founder of Hennessee Group, in a statement. “The top performing managers were positioned for a January rally and were long stocks that underperformed in 2011.”
Equity long/short was one of January’s best-performing strategies, according to Hennessee, adding 2.47%, as stocks—particularly technology and financials—made gains and U.S. economic data improved.
Arbitrage/event driven funds gained 2.31% during the first month of the year, their best performance since December 2010. All strategies within this category returned positive results in January, as credit markets (with the exception of Treasuries) advanced for the month. Distressed funds added 3.24% in January while merger arbitrage funds gained 1.25% and convertible arbitrage strategies returned 1.91%.
Global/macro strategies added 2.89% in January. Emerging market hedge funds were top performers for the month, gaining 6.15%. In addition to the European sovereign debt crisis and a possible slowdown in China, managers are closely monitoring the political and social unrest in the Middle East and several have concerns about Iran and Syria. Hennessee’s Macro Index increased 1.46% for the month.
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.