Sunday, 29 November 2015
Last updated 1 day ago
Apr 8 2013 | 11:25am ET
Hedge funds closed out the first quarter the way they spent it: up, but trailing the broader markets.
Hedge Fund Research's HFRI Fund Weighted Composite Index rose 1.15% in March and 3.87% in the first quarter. By contrast, the Standard & Poor's 500 Index rose more than 10% in the year's first three months.
Returns were broadly positive across hedge fund strategies—with the notable exception of emerging markets funds. Excepting them, only two substrategies, short bias and energy and basic materials, were in the red last month, falling 2.39% (down 5.5% year-to-date) and 0.48% (down 0.23% YTD), respectively.
Yield alternatives funds did best in March, adding 3.66% (9.38% YTD). Technology and healthcare funds were up 2.93% (6.33% YTD) and multi-strategy relative-value funds 2.85% (5.2% YTD).
Relative value funds rose an average of 1.52% in March (3.75% YTD), equity hedge funds 1.45% (5.29% YTD), distressed and restructuring funds 1.34% (4.37% YTD), event-driven funds 1.02% (3.75% YTD), merger arbitrage funds 0.69% (0.88% YTD), equity market neutral funds 0.68% (2.62% YTD), convertible arbitrage funds 0.6% (2.34% YTD) and macro funds 0.54% (1.43% YTD).
Emerging markets funds fell, on average, 1.04% last month (up 2.39% YTD), but the returns were scattered. Asia ex-Japan funds rose 0.58% (up 4.85% YTD), but Russia and Eastern European funds lost 4.28% (down 0.72% YTD) and Latin American funds fell 1.96% (up 1.1% YTD).
Funds of hedge funds returned 1% on the month and are up 3.46% on the year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…