Thursday, 31 July 2014
Last updated 43 min ago
Aug 21 2013 | 11:08am ET
August is shaping up as a bloodbath for hedge funds, according to Hedge Fund Research.
The HFRX Global Hedge Fund Index is down 0.4% through Aug. 16, cutting its year-to-date gains to 3.78%. And the losses are widespread, with only relative-value funds emerging in the black.
The average relative-value fund rose 0.17% on the month (1.61% year-to-date), with convertible arbitrage funds adding 0.44% (10.15% YTD) and multi-strategy funds 0.09% (down 0.02% YTD). The only other strategies enjoying gains in August are multi-region funds (0.19% in August, 4.29% YTD) and merger arbitrage funds (0.12%, 2.57% YTD).
The much more numerous losers were led by master-limited partnerships, the year's best strategy but early August's worse with a 1.52% decline (up 16.97% YTD). Equity-market neutral funds shed an average of 1.01% (up 0.18% YTD), emerging markets funds 0.94% (up 1.38% YTD), equity hedge funds 0.81% (up 6.41% YTD), fundamental value funds 0.8% (up 10.94% YTD), North America funds 0.78% (up 7.12% YTD) and fundamental growth funds 0.77% (down 0.55% YTD). Macro funds and commodity trading advisers were down 0.7% (down 2.29% YTD), special situations funds 0.34% (up 11.39% YTD), event-driven funds 0.32% (up 8.82% YTD), distressed restructuring funds 0.26% (up 3.77% YTD) and credit funds 0.11% (up 5.52% YTD).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…