Saturday, 25 April 2015
Last updated 21 hours ago
Jan 8 2013 | 1:34pm ET
Hedge funds ended 2012 on a positive note, but one drowned out by a discordant and disappointing year.
The average hedge fund returned just 3.51% last year, and a good chunk of that came in December: The HFRX Global Hedge Fund Index rose 0.92% on the month, according to Hedge Fund Research. The Standard & Poor's 500 Index returned 16% last year.
All of the HFRX strategy and substrategy indices—save one—were up in December, and only three were down on the year. Last year's best performance came from emerging markets funds, which returned 8.67% (1.79% in Dec.). Credit funds rose 7.65% (1.47% in Dec.), convertible arbitrage funds 7.21% (1.08% in Dec.), fundamental growth funds 6.3% (1.61% in Dec.) and event-driven funds 5.96% (1.29% in Dec.).
Equity hedge funds rose 4.81% in 2012 (0.44% in Dec.) and relative-value arbitrage funds 3.62% (1.28% in Dec.).
Last year's losers were systematic diversified commodity trading advisers, which fell 7.4% (up 0.85% in Dec.); equity market neutral funds, down 4.66% (up 0.1% in Dec.); and macro funds and CTAs, down 1% (up 0.65% in Dec.). The only strategy to lose ground last month was master-limited partnerships, which fell 1.08% to cut its 2012 gain to 4.12%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…