Tuesday, 23 September 2014
Last updated 10 hours ago
Dec 17 2012 | 12:05pm ET
Hedge funds posted broadly positive returns in November as the industry creaks towards the end of a broadly disappointing year.
The average hedge fund rose 0.64% last month and is up 6.1% on the year, according to the Dow Jones Credit Suisse Hedge Fund Index. The latter figure is about half the return of the Standard & Poor's 500 Index through November.
Twelve of Dow Jones' 13 strategy indices were in the black in November, led by emerging markets funds (1.1% in November, 7.72% year-to-date), risk arbitrage funds (1.05%, 1.29% YTD) and multi-strategy funds (1%, 9.69% YTD).
Long/short equity funds rose 0.73% last month (6.52% YTD), global macro funds 0.72% (3.27% YTD), managed futures funds 0.58% (down 3.97% YTD), fixed-income arbitrage funds 0.48% (10.29% YTD), equity market neutral funds 0.39% (down 0.01% YTD), event-driven multi-strategy funds 0.31% (7.97% YTD), event-driven funds 0.3% (8.49% YTD) and convertible arbitrage funds 0.22% (6.36% YTD).
The sole losing strategy last month was dedicated short-bias, which fell 0.43% in November and is down 17.97% 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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.