Sunday, 21 December 2014
Last updated 13 hours ago
Jul 10 2013 | 1:37pm ET
Hedge funds were bathed in red in June, as all but a handful of strategies suffered losses.
The average hedge fund fell 1.31% last month, according to Hedge Fund Research's HFRI Fund Weighted Composite Index. The benchmark is up 3.59% on the year.
Among major strategies, emerging markets hedge funds were hardest-hit, falling 3.96% in June (down 0.28% year-to-date). Macro dropped 1.45% (down 0.35% YTD), equity hedge 1.37% (up 5.34% YTD), event-driven 1.16% (up 5.44% YTD) and relative-value 0.93% (up 3.26% YTD).
Among substrategies, there were a handful of winners last month—yield alternatives rose 1.65% (12.41% YTD), short-bias 0.74% (down 9.96% YTD), technology and healthcare 0.65% (9.21% YTD) and equity market-neutral 0.43% (3.34% YTD). But they were vastly outnumbered by the losers.
Asia ex-Japan funds lost 5.74% on the month (up 0.86% YTD) and Latin America funds 5.15% (down 5.43% YTD). Russia and Eastern Europe funds dropped 2.78% (down 2.99% YTD) and global funds 2.38% (up 0.87% YTD).
Outside of emerging markets, things were better—but not by much. Corporate fixed-income shed 2.66% (up 0.7% YTD), systematic diversified 1.79% (down 0.51% YTD), multi-strategy relative-value 1.42% (up 3.93% YTD) and distressed and restructuring 1.18% (up 6.84% YTD). Merger arbitrage fell 0.49% (up 1.21% YTD), convertible arbitrage 0.4% (up 4.94% YTD) and quantitative directional 0.31% (up 4.9% YTD).
The HFRI Fund of Funds Composite Index gave back 1.44% in June to cut its 2013 return to 3.28%.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.