Wednesday, 30 July 2014
Last updated 1 hour ago
Jul 9 2007 | 2:04pm ET
In spite of declining equity markets, hedge funds enjoyed another up month, the HFN Hedge Fund Aggregate Average shows.
Hedge funds rose 1.4% last month, the 11th consecutive positive monthly return for the index, HedgeFund.net said. Hedge funds’ year-to-date return now stands at 7.86%, retaking the lead from the Standard & Poor’s 500, which stands at 6.96% year-to-date after shedding 1.66% in June.
While hedge funds bucked the markets—even the HFN Long/Short Equity Average was up last month, adding 1.05% (8.89% YTD)—they were not immune to them. Short-biased funds profited from the market’s tumble, rising 2.65% last month. Unfortunately for short investors, the funds haven’t recovered from the beating they took over the months-long market rally, and short-biased funds remain down 2.48% on the year. Meanwhile, the HFN Finance Sector Average was burned by the growing subprime mortgage fiasco, falling 0.55% in June. It is down 1.09% in 2007.
Shorting wasn’t the only way to make money last month. The HFN CTA/Managed Futures Average soared 2.73% last month to reach 5.19% year-to-date after a slow start. Macro funds also enjoyed a strong June, rising 2.16% (6.03%). Emerging markets and energy funds remain the best performers year-to-date after June returns of 1.95% (11.21% YTD) and 1.24% (12.15% YTD), respectively.
Asia and Latin America remained good places to make money, as well, with returns of 2.31% (10.26% YTD) and 1.19% (16.54% YTD), respectively.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…