Tuesday, 5 May 2015
Last updated 7 hours ago
Aug 12 2013 | 12:49pm ET
Hedge funds rebounded in July after losing ground in June, according to the latest data from the Hennessee Group.
The Hennessee Hedge Fund Index rose 1.82% in July and is now up 6.91% year to date.
“Several managers were encouraged to see that $60 billion was redeemed from bond mutual funds in June, with most of it going to savings.” said Hennessee co-founder Charles Gradante, in a statement. “That money is building on the sidelines representing new future demand for equities.”
Equity long/short hedge funds gained 2.95% in July (11.22% YTD), arbitrage event-driven strategies were up 1.01% in July (5.82% YTD) and distressed funds were up 1.39% in July (8.31% YTD).
Merger arbitrage funds were up 1.66% in July (5.23% YTD) and convertible arbitrage funds were up 0.11% on the month (3.93% YTD).
Global/macro strategies added 0.66% in July (1.64% YTD). Emerging market funds rose 1.87% (3.42% YTD) and macro funds rose 0.34% on the month (but are down 1.73% YTD).
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…