Thursday, 18 December 2014
Last updated 7 min 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).
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…
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