Saturday, 20 September 2014
Last updated 1 day ago
Jun 17 2013 | 2:20pm ET
Hedge funds edged up in May, according to one major industry index.
The Dow Jones Credit Suisse Hedge Fund Index added 0.42% last month. The benchmark is up 5.43% on the year—producing about one-third the return of the Standard & Poor's 500 Index over the same period.
Distressed funds did best in May, rising 2.38% (8.92% year-to-date). followed by event-driven funds (2.27% in May, 8.44% YTD) and event-driven multi-strategy funds (2.23, 8.26% YTD). Convertible arbitrage funds rose an average of 1.3% (4.15% YTD), long/short equity funds 1.19% (7.69% YTD), risk arbitrage funds 0.8% (1.76% YTD), equity-market neutral 0.4% (2.15% YTD), multi-strategy 0.37% (4.61% YTD) and fixed-income arbitrage 0.01% (2.52% YTD).
Managed futures funds took a big hit last month, falling an average of 4.98% to cut their year-to-date return to 1.94%. Dedicated short bias funds fell another 1.51% as the market rally continued, and are now down 13.06%. Emerging markets funds lost 0.2% on the month (up 6.01% YTD), and global macro funds shed 0.05% (up 3.91% YTD).
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.