Thursday, 24 July 2014
Last updated 10 hours ago
Jun 7 2013 | 2:34pm ET
Hedge funds enjoyed broad, if small, gains last month, according to Hedge Fund Research's HFRX index suite.
The HFRX Global Hedge Fund Index rose 0.75% in May, less than half the Standard & Poor's 500 Index's return for the month. The benchmark is up 4.55% on the year, less than one-third the S&P's gain.
Convertible arbitrage funds led the way in May, adding 2.78% (8.92% year-to-date), followed by event-driven funds (2.16% in May, 0.95% YTD), fundamental value funds (2.09%, 9.3% YTD). Special situations funds added 1.77% last month (10.57% YTD), distressed restructuring funds 1.58% (3.88% YTD), credit funds 1.1% (5.35%), equity hedge funds 0.83% (6.61% YTD) and relative-value funds 0.73% (2.91% YTD).
The losing side of the ledger features fundamental growth funds, down 1.41% (up 2.8% YTD), macro funds and commodity trading advisers, down 0.95% (down 0.41% YTD), systematic diversified CTAs, down 0.8% (down 1.69% YTD), emerging markets funds, down 0.14% (up 3.23%), and the year's best-performing strategy, master-limited partnerships, which fell 0.09% in May but remain up 15.88% 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…