Saturday, 20 September 2014
Last updated 15 hours ago
Aug 8 2007 | 10:26am ET
Hedge Fund Research’s HFRX Index report for last month is in, and it’s covered in red.
Just two of the 20 indices and subindices tracked by HFR were up during a brutal July, as the sub-prime mortgage troubles began to seep into the credit markets generally and stocks took a beating. The flagship HFRX Global Hedge Fund Index sank 0.93% on the month (up 5.4% year-to-date); the only indices in positive ground were the Absolute Return Index at 0.35% (6.39% YTD) and the relative value arbitrage strategy index, up a healthy 1.65% (6.36% YTD). On the bright side, all of the HFRX indices remain in positive ground year-to-date.
As for the much more numerous losers, macro “led” the way in matching the Standard & Poor’s 500’s decline in July; it fell 3.13% and is now up just 0.43% on the year. Merger arbitrage was the other big loser, dropping 2.14% in July (up 3.64% YTD). Distressed securities declined by just 1.13% (up 4.54% YTD). Equity hedge fell 1.4% (up 5.66% YTD), event-driven 0.74% (up 8.25% YTD, tops among individual strategies), convertible arbitrage 0.73% (up 2.21% YTD) and equity market-neutral 0.42% (6.21% YTD). In addition, all eight of the HFRX Global Currency Indices were down, anywhere from a decline of 0.59% to a drop of 1.24%.
Among its Global Indices, market directional was the big loser, falling 1.82% (up 6.14% YTD). Its Equal Weighted Strategies Index did not much better than most of its strategies, shedding 0.65% (up 5.11% YTD).
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…
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