Saturday, 25 April 2015
Last updated 1 day 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).
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…