Saturday, 4 July 2015
Last updated 1 day ago
Sep 7 2012 | 10:55am ET
With eight months in the books, hedge funds have a long way to go to impress in the last four of the year.
The average hedge fund rose just 0.51% in August, according Hedge Fund Research's HFRX Global Hedge Fund Index. The benchmark is up 2.29% for the year—a far cry from the roughly 12% return managed by the Standard & Poor's 500 Index over the same period.
Most strategies and sub-strategies tracked by the HFRX suite were up in August, but none matched the S&P500's nearly 2% jump. The closest to that market were master-limited partnership funds, which rose 1.77% in August (3.09% year-to-date).
Special situations funds added an average of 1.21% (2.29% YTD). Event-driven funds rose 0.92% (4.2% YTD), equity hedge funds 0.84% (2.6% YTD), fundamental value funds 0.71% (3.57% YTD), convertible arbitrage funds 0.67% (5.89% YTD), emerging markets funds 0.54% (5.55% YTD) and fundamental growth funds 0.52% (2.88% YTD).
Systematic diversified commodity trading advisers were the worst in August, falling 1.54% (down 3.05% YTD). Distressed restructuring funds gave back 0.34% on the month (up 3.15% YTD), equity market neutral funds 0.08% (down 5.11% YTD) and macro funds and CTAs 0.02% (down 0.37% YTD). Multi-strategy relative-value arbitrage funds were perfectly flat on the month, leaving them up an average of 1.5% on the year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…