Thursday, 30 October 2014
Last updated 18 min ago
Jul 19 2012 | 11:16am ET
After a highly-mixed second quarter, hedge funds have gotten off on the right foot in the third.
The average hedge fund rose 0.56% in the first two weeks of July, according to the HFRX Global Hedge Fund Index. The gain pushes the benchmark to 1.79% for the year.
All but three of the strategies and sub-strategies tracked by Hedge Fund Research's HFRX suite were up through July 16, led by systematic diversified commodity trading advisors, which added 2.92% (down 1.84% year-to-date) and the broader macro/CTA index, which returned 1.76% (down 0.07% YTD). The market directional and multi-region indices were both up 1.46% (the former 0.3% YTD, the latter 3.31% YTD).
Convertible arbitrage funds rose an average of 0.9% in early July (4.91% YTD), equity market neutral funds 0.76% (down 4.24% YTD), fundamental value funds 0.67% (2.13% YTD), distressed restructuring funds 0.5% (3.56% YTD) and equity hedge funds 0.39% (1.58% YTD).
Relative value arbitrage funds added 0.3% (2.44% YTD), multi-strategy funds 0.2% (2.26% YTD) and merger arbitrage funds 0.02% (1.01% YTD).
The two-week losers were fundamental growth funds, down 0.67% (up 1.75% YTD); special situations funds, down 0.22% (up 0.76% YTD); and event-driven funds, down 0.02% (up 2.97% YTD).
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.