Friday, 21 November 2014
Last updated 1 hour 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).
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...