Sunday, 21 December 2014
Last updated 9 hours ago
Sep 6 2012 | 11:48am ET
Hedge funds continue to badly trail the broader markets, failing once again in August to participate in a stock-market rally.
The average hedge fund rose 0.56% last month, the Dow Jones Credit Suisse Core Index shows. But the Standard & Poor's 500 Index rose almost 2% on the month and is up almost 12% on the year. By contrast, the Dow Jones benchmark is up just 2.02% this year, a gain recorded almost entirely in the last two months.
Returns were mixed across strategies, with long/short equity funds managing a 1.66% return in August (down 0.38% year-to-date) and event-driven hedge funds up 1.04% (up 2% YTD). Global macro hedge funds added 0.88% on the month (4.74% YTD), fixed-income arbitrage funds 0.57% (1.47% YTD) and convertible arbitrage funds 0.25% (5.58% YTD, the best of the lot).
Managed futures funds, on the other hand, took a big hit, dropping 2.01% last month (up 0.84% YTD). Emerging markets funds edged down, falling 0.15% (up 0.26% YTD).
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.