Saturday, 30 August 2014
Last updated 1 day 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).
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...