Sunday, 19 April 2015
Last updated 20 hours ago
May 17 2013 | 2:38pm ET
Hedge funds are off to a fairly good start this month amidst the continuing market rally.
Hedge Fund Research's HFRX Global Hedge Fund Index was up 1.16% through May 15. The benchmark is now up 4.98% on the year.
The Standard & Poor's 500 Index is up over 3% this month and over 16% on the year.
Still, hedge funds' gains were broad-based on the month, with only two strategies losing ground. The best-performing strategies were convertible arbitrage and fundamental value funds, which both added 2.51% (8.62% and 9.74% year-to-date, respectively). Event-driven hedge funds rose 1.81% (8.24% YTD), equity hedge funds 1.66% (7.49% YTD), special situations funds 1.63% (10.42% YTD), emerging markets and credit funds 1.42% (4.84% and 5.68% YTD, respectively) and distressed restructuring funds 1.16% (3.44% YTD).
On the losing side, equity market neutral funds fell 0.74% (up 0.28% YTD) and systematic diversified commodity-trading advisers 0.42% (down 1.31% YTD).
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…