Thursday, 24 July 2014
Last updated 2 hours ago
Oct 12 2012 | 11:32am ET
Hedge funds returned less than 1% to close out the third quarter, according to Greenwich Alternative Investments.
The Greenwich Global Hedge Fund Index rose 0.99% in September and is up 4.61% on the year. Long/short equity hedge funds were behind much of the gain, rising an average of 2.03% (5.54% year-to-date), followed by event-driven funds (1.45% in September, 6.2% YTD), market-neutral funds (0.78%, 5.23% YTD), specialty strategies (0.76%, 6.19% YTD) and arbitrage funds (0.35%, 6.94% YTD).
Among sub-strategies, long/short growth funds were the standout, rising 2.6% on the month (6.64% YTD). Distressed securities funds added 2.24% (8.19% YTD), long/short value funds 2.07% (6.86% YTD), long/short opportunistic funds 1.73% (2.39% YTD), merger arbitrage funds 1.11% (5.04% YTD) and long/short credit funds 1.06% (8.59% YTD).
On the red side of the ledger were short-biased funds, which fell 4.61% (down 16.61% YTD), futures funds (down 0.84%, up 0.22% YTD) and directional trading funds (down 0.46%, up 1.14% YTD).
Regionally, emerging markets funds in Asia were best in September, adding 4.54% (5.26% YTD), followed by European emerging markets funds at 3.69% (6.14% YTD) and those in Latin America at 3.25% (9.06%). All told, emerging markets funds were up an average of 3.43% (5.24% YTD). In the developed world, where the average hedge fund was up 0.76% (4.86% YTD), North American (1.55%, 7.06% YTD) and Asian (1.53%, 2.66% YTD) were best.
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…