Saturday, 20 September 2014
Last updated 19 hours ago
Aug 14 2007 | 10:33am ET
The RBC Hedge 250 Index declined slightly in July, but the declines were broad-based, with five of nine substrategies in the red for the month.
The overall index fell just 0.14%, and remains up 6.82% year-to-date. Both numbers compare quite favorably to the Standard & Poor’s 500, which fell by more than 3% and is up just over 3% through July.
While broad-based, July’s pain was hardly evenly spread out. Managed futures funds took the biggest hit, dropping 2.03% on the month (up 2.2% YTD). Convertible arbitrage also suffered through a difficult month, losing 1.38%; it's now essentially flat (up 0.01% YTD) in 2007.
Event-driven credit funds sank 0.93% in July (up 0.32% YTD), multi-strategy fell 0.39% (up 0.46% YTD) and macro funds dropped 0.08% (up 1.23% YTD).
On the plus side, fixed-income arbitrage led the way with a 1.86% return (3.82% YTD). The other top strategies were all up less than 1%: equity market-neutral (up 0.73% in July, 6.99% YTD), mergers and special situations (0.45%, 11.09% YTD) and equity long/short (0.33%, 8.12% 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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.