Saturday, 23 August 2014
Last updated 1 day ago
Mar 13 2013 | 11:56am ET
Hedge funds edged up in February to add to their January gains.
The average hedge fund rose 0.15% last month, according to the Lyxor Hedge Fund Index, and is up 1.73% on the year. By contrast, the Standard & Poor's 500 Index rose 1.4% in February and is up more than 6% on the year.
Returns were decidedly mixed across strategies, with eight of the 14 tracked by Lyxor posting gains. Fixed-income arbitrage had the best February, rising 2.06%, followed by equity-market neutral, up 1.65% on the month and 6.81% on the year, and variable bias, up 1.59% last month. Merger arbitrage funds were up 0.73% in February, while long/short credit arbitrage was flat.
Commodity trading advisers lost the most ground last month, falling 1.22%. Special situations lost 1.06%, global macro 0.74%, distressed securities 0.37% and short-term 0.15%. Convertible arbitrage funds were down slightly.
"The unexpected outcome of the Italian elections has hit many hedge fund managers this month, but a full-blow financial crisis is definitely not on their agenda," Stefan Keller, head of managed account platform research at Lyxor Asset Management, said.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note