Saturday, 28 March 2015
Last updated 11 hours ago
Mar 11 2013 | 10:51am ET
Hedge funds have posted gains in the first two months of the new year, according to one prominent industry index.
The Hennessee Hedge Fund Index added 0.23% last month and is up 3.01% on the year. Both figures badly lag the broader markets, with the Standard & Poor's 500 Index adding 1.11% on the month and 6.2% on the year. But that underperformance could actually be a boon to hedge funds, Hennessee Group's Charles Gradante said.
"With equity markets near all-time highs, we are seeing more allocations into hedge funds. Many individuals feel that the equity and credit market upside is somewhat limited at this point and there are several risks that could cause markets to fall."
While the average hedge fund gained ground in February, the month was a mixed bag for the industry. While arbitrage and event-driven funds returned an average 0.46% (2.07% year-to-date) for the month, individual strategies ranged from a 1.07% jump for distressed funds (2.29% YTD) to a 0.6% return for merger arbitrage funds (1.24% YTD) and a 0.18% drop for convertible arbitrage funds (up 1.16% YTD).
Other winners included long/short equity funds, up 0.38% in February (3.43% YTD). Other losers included macro funds, which lost an average 1.63% (up 1.95% YTD), and emerging markets funds, which lost 0.41% (up 2.51% YTD).
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…