Tuesday, 21 October 2014
Last updated 3 hours ago
Aug 9 2007 | 1:16pm ET
A pair of hedge fund indices show a slightly positive return for July, with individual strategy subindices being quite a mixed bag.
HedgeFund.net’s HFN Hedge Fund Aggregate Index rose 0.29% last month, and the Hennessee Hedge Fund Index 0.33%, bucking the sinking equities market and the sub-prime minefield. The Standard & Poor’s 500 fell 3.13% and is up just 3.33% year-to-date, compared to 8.96% for the Hennessee index and 7.65% for HFN.
“Thus far, it has been a good year for hedge funds as a whole, despite the collapse of several funds focused on fixed-income,” the Hennessee Group’s E. Lee Hennessee said. “The increase in equity market volatility has been welcomed by short sellers, who have had a tough time over the past four years.”
Short-biased, macro and non-U.S. funds were the place to be in July: Hennessee’s Short-Biased Index was the strongest on the month, rising 3.51% (0.87% YTD). The other three indices above 3% in July all covered hedge funds investing on farther shores: Asia-Pacific was up 3.19% (14.81% YTD), emerging markets 3.03% (11.31% YTD) and Latin America 3.01% (20.66% YTD, tops among the Hennessee indices). For its part, HFN has Asia up 2.23% (12.48% YTD), Latin America 2.49% (19.81% YTD) and Europe up 0.18% (7.91% YTD, though Hennessee’s Europe Index fell 1.06% on the month to 11.31% YTD).
Big losers included healthcare and biotech (Hennessee: down 2.82% in July, up 6.27% YTD), distressed (Hennessee: down 0.8%, up 8.89% YTD; HFN: down 2.21%, up 5.74% YTD) and CTA/managed futures (HFN: down 1.42%, up 3.11% 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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...