Wednesday, 22 October 2014
Last updated 1 hour ago
Mar 7 2013 | 9:09am ET
Hedge funds posted their fourth consecutive month of gains in February, adding 0.28%, according to eVestment.
Mortgage strategies posted the biggest returns, adding 1.32% on the month (up 3.36% on the year); followed by long/short equity, up 1.12% on the month (and 4.56% YTD); multi-strategy, up 0.87% on the month (and 2.83% YTD); and event-driven/distressed, up 0.75% in February (and 2.65% YTD).
Also in the black last month were market neutral equity strategies, up 0.64% (and 1.78% YTD); and relative-value credit, up 0.52% (and 1.75% YTD).
The only losing strategies in February were managed futures, down 1.49% (and down 0.09% YTD); and macro, down 0.01% (but up 0.97% YTD).
Purely systematic trading strategies were up 0.42% YTD in February compared to gains of 3.10% for discretionary strategies. eVestment says these numbers illustrate the difficulties facing systematic strategies “in markets where current prices are likely being influenced very differently by the array of factors than modeled in the past, perhaps a symptom of current global monetary policies.”
Emerging market fund returns were mostly positive, but a few large losses from China-focused funds put them, as a group, down 0.62% for the month (but up 2.28% 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 ...