Sunday, 28 December 2014
Last updated 39 min ago
May 9 2013 | 12:02pm ET
Hedge funds posted broad but modest gains in April, according to Hedge Fund Research.
Just two of the 22 strategies and sub-strategies tracked by the HFRI suite lost ground last month. But the overall HFRI Fund Weighted Composite Index rose just 0.69% in an April that saw the Standard & Poor's 500 Index jump 1.8%; on the year, the gap is even wider, with the S&P500 up by double-digits and the HFRI benchmark up just 4.37%.
Systematic diversified funds led the way last month with a 2.29% return (3.44% year-to-date), followed by Asia ex-Japan funds at 1.95% (4.85% YTD) and multi-strategy relative-value funds at 1.45% (4.78% YTD). Corporate bond funds added 1.36% last month (3.88% YTD), technology and healthcare funds 1.32% (6.76% YTD), Russia and Eastern Europe funds 1.21% (2.95% YTD), convertible arbitrage funds 1.07% (4.08% YTD) and macro funds 1% (2.29% YTD).
Relative-value funds rose 0.99% (4.16% YTD), event-driven funds 0.9% (4.84% YTD), equity-market neutral funds 0.72% (2.88% YTD), asset-backed funds 0.71% (4.43% YTD), distressed and restructuring funds 0.69% (4.84% YTD), equity hedge funds 0.35% (5.39% YTD), merger arbitrage funds 0.32% (1.15% YTD) and quantitative directional funds 0.15% (4.33% YTD).
Only short-bias funds and energy and basic materials funds lost ground last month, with the former dropping 2.77% amidst the market rally (down 7.45% YTD) and the latter 1.29% (up 0.12% YTD).
Funds of hedge funds rose an average of 1.08% on the month (4.48% 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.