Tuesday, 23 September 2014
Last updated 7 hours ago
Apr 9 2013 | 12:31pm ET
Hedge funds gained 1.74% in March, trailing the S&P 500 which advanced 3.75%, according to the latest numbers from the Hennessee Group.
“Hedge funds were positive in March as long positions performed well. The markets remain in ‘risk-on’ mode,” said Charles Gradante, co-founder of Hennessee Group, in a statement. “The start of 2013 is reminiscent of last year. Managers are cautious as the second quarter has been a challenging period for investing in the last couple of years.”
Equity long/short funds added 2.37% in March, putting them up 5.88% year to date. The best-performing sectors were healthcare (up 6.24% on the month), utilities (up 5.13%) and consumer discretionary (up 4.76%).
Arbitrage and event-driven funds were up 1.55% in March (and 3.62% YTD). Distressed funds advanced 1.47% on the month (3.79% YTD). Merger arbitrage funds gained 1.27% in March (2.53% YTD) while convertible arbitrage funds gained 0.53% on the month (1.69% YTD).
Global macro funds added 0.50% on the month (4.24% YTD) but emerging markets funds slipped 0.13% on the month (and are down 2.37% YTD). Macro funds advanced 0.30% in March (and 2.26% 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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.