Wednesday, 1 October 2014
Last updated 4 hours ago
Dec 14 2012 | 10:46am ET
Hedge funds weathered an up-and-down November to manage a small gain, the Barclay Hedge Fund Index shows.
The average hedge fund rose 0.4% last month, according to the benchmark, which is up 6.36% on the year—about half the performance of the Standard & Poor's 500 Index.
"In spite of an early month sell-off driven by fiscal cliff fears followed by a mid-month rally fueled by encouraging economic data, hedge funds were able to get through the tumult with a small profit in November," BarclayHedge founder Sol Waksman said.
European equity hedge funds led the way, with a 1.54% gain in November. Merger arbitrage funds rose 1.17%, event-driven funds 0.83% and fixed-income arbitrage funds 0.75%. On the year, European equity funds and fixed-income arbitrage funds are among the best performers, up 8.55% and 8.47%, respectively, behind only healthcare and biotechnology (12.93%) and distressed securities (10%).
On the other side of the ledger, equity short-bias funds suffered another loser month, dropping 2.34%. The strategy is the only one tracked by BarclayHedge to be down for the year, a negative 19.34%. Other losing strategies in November were technology, down 0.43%, and global macro, down 0.31%,
Funds of hedge funds matched hedge funds' performance in November and are up an average of 3.4% on the year.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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