Thursday, 24 July 2014
Last updated 1 min 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).
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…