Saturday, 26 July 2014
Last updated 23 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.
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…