Sunday, 21 September 2014
Last updated 1 day ago
Aug 8 2013 | 1:11pm ET
July was a mixed month for several prominent hedge funds, in spite of a rally in stock prices.
Renaissance Technologies' Institutional Equities Fund rose 1.8% last month, pushing the fund into double-digits for the year at 11%, Bloomberg News reports. Bridgewater Associates' Pure Alpha II did even better in July to reach a more modest milestone: The month's 3% gain pulled the fund out of the red; it was up 1.9% through the end of July and has added a further 1% this month already.
Tudor Investment Corp.'s BVI Global fund was not so lucky, shedding 2.8% on the month to cut its year-to-date gain to 8.9%.
The average hedge fund returned just 0.6% last month, a far cry from the Standard & Poor's 500 Index's 5% rise, the Bloomberg Hedge Fund Index shows. That benchmark is up just 3.2% on the year.
Long/short equity funds rose an average of 1.3% during last month's rally, according to Bloomberg, and are up 5.2% on the year. Macro funds fell 0.1% (down 2.3% year-to-date), while multistrategy funds dropped 1.3% (up 0.4% 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.