Tuesday, 23 September 2014
Last updated 12 hours ago
Feb 5 2013 | 1:52pm ET
Hedge funds gained ground in January but failed to capture the full rally of the broader markets, according to one industry benchmark.
The HFRX Global Hedge Fund Index rose 1.96% last month, turning in better than half its 2012 performance, up 3.51%, in 2013's first month alone. But that good news was tempered by the Standard & Poor's 500 Index's red-hot January, in which it soared 5.1%.
Only one strategy tracked by the HFRX suite managed to top that, with master-limited partnerships jumping 8.03% last month.
Special situations funds rose 4.22% on the month, event-driven funds 3.38%, fundamental value equity funds 3.08% and equity hedge funds 2.64%. Relative-value arbitrage funds added 1.51%, credit funds 1.39%, convertible arbitrage funds 0.97%, emerging markets funds 0.41%, and macro funds and commodity trading advisers 0.1%.
The only funds to lose ground on average last month were systematic diversified CTAs, which fell 0.08%.
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.