Monday, 1 September 2014
Last updated 2 days 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...