Thursday, 31 July 2014
Last updated 28 min 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).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…