Saturday, 25 October 2014
Last updated 1 day ago
Apr 3 2013 | 12:25pm ET
Hedge funds posted broad-based, if relatively small, gains in March as the global stock surge continued unabated.
Hedge Fund Research's HFRX Global Hedge Fund Index gained 0.72% last month and is up 3.13% on the year. By contrast, the Standard & Poor's 500 Index rose more than 3% last month and was up more than 10% in the first quarter.
Thirteen of the 16 strategy and sub-strategy indices tracked by the HFRX suite were in the black last month, led again by master-limited partnerships, which returned an average of 4.8% (15.39% year-to-date). Special situations funds sat in a distance second, up 1.93% (7.36% YTD), followed by fundamental value funds (1.48% in March, 6.4% YTD), event-driven funds (1.42%, 5.32% YTD), equity hedge funds (1.42%, 5.14% YTD) and convertible arbitrage funds (1.23%, 3.69% YTD).
Credit funds rose an average of 0.97% on the month (3.05% YTD), distressed restructuring funds 0.46% (1.4% YTD), emerging markets funds 0.38% (1.04% YTD), merger arbitrage funds 0.38% (0.91% YTD), relative value arbitrage funds 0.07% (1.68% YTD) and macro funds and commodity trading advisers 0.03% (0.04% YTD).
The only three strategies to lose ground in March were multi-strategy relative value (down 0.3%, up 1.22% YTD), systematic diversified CTAs (down 0.25%, down 0.84% YTD) and equity market neutral (down 0.02%, up 0.55% 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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.