Tuesday, 30 September 2014
Last updated 2 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).
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...