Tuesday, 29 July 2014
Last updated 3 hours ago
May 10 2013 | 12:50pm ET
Hedge funds extended their winning streak to four-for-four in April, but not by much.
Hedge funds rose an average of 0.28% in the most-mixed month of the year so far for the industry, the Hennessee Hedge Fund Index shows. Indeed, long/short equity funds lost ground on the month even as the broader index rose, shedding 0.17% in a month that saw the Standard & Poor's 500 Index jump 1.81%.
The average hedge fund is now up 5.09% on the year, and the average long/short equity hedge fund 5.71%, while the S&P500 is up 12.02%.
Arbitrage and event-driven hedge funds returned 0.87% in April (4.52% year-to-date) and global and macro funds 0.8% (5.07% YTD).
Individual strategies were led by Asia-Pacific funds, which rose an average of 1.88% (8.72% YTD). Healthcare and biotechnology funds rose 1.67% (12.44% YTD), distressed funds 1.62% (5.47% YTD), international funds 1.37% (7.3% YTD), merger arbitrage funds 1.29% (3.85% YTD), event-driven funds 1.08% (6.16% YTD) and high-yield funds 1.03% (3.14% YTD).
Emerging markets funds added 0.73% (3.12% YTD), fixed-income funds 0.22% (5.86% YTD) and macro funds 0.06% (2.32% YTD).
On the losing side of the ledger, European funds dropped 2.8% in April (up 2.98% YTD), opportunistic funds 2.44% (up 1.53% YTD), market-neutral funds 1.83% (down 0.17% YTD), short-bias funds 1.26% (down 7.23% YTD), technology funds 0.7% (up 3.69% YTD), value funds 0.32% (up 6.37% YTD), growth funds 0.08% (up 4.97% YTD) and convertible arbitrage funds 0.04% (up 1.65% YTD). Only short-bias and market neutral funds are down on the year.
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…