Friday, 26 December 2014
Last updated 2 days 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).
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.