Saturday, 23 May 2015
Last updated 13 hours ago
Jun 18 2013 | 10:29am ET
Hedge funds enjoyed broad gains in May, according to an industry index, although the average fund continues to badly lag the markets.
The Barclay Hedge Fund Index rose 1.06% last month, with 16 of its 18 strategies in the black. The benchmark is up 5.87% on the year—but the Standard & Poor's 500 Index is up over 15%.
Healthcare and biotechnology was the best-performing strategy in May, rising 3.11%. Equity long-bias funds added 2.64%, distressed securities 2.42%, technology 2.36% and convertible arbitrage 1.81%.
Equity short-bias funds fell a further 4.01% on the month and are now down an average of 17.14% on the year—the only BarclayHedge strategy in the red through May. Pacific Rim equities lost 0.91% on the month, burned by the recent swoon in Japanese shares.
Funds of hedge funds posted gains for the seventh-straight month, according to BarclayHedge, adding 0.67% (4.82% year-to-date).
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…