Sunday, 29 March 2015
Last updated 2 days 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.
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…