Tuesday, 29 July 2014
Last updated 1 hour ago
Sep 10 2013 | 8:15am ET
The HFRI Fund Weighted Composite index declined 0.70% in August, with mixed performance across various hedge fund strategies, bringing year-to-date gains to 3.87%.
Event-driven funds, overall, were down 0.04% on the month (up 6.88% YTD). Within that category, credit arbitrage funds added 0.8% on the month and distressed funds added 0.08%. In the red were merger arbitrage and special situations funds, down 0.11% and 0.24%, respectively.
Relative value arbitrage funds were down 0.46% on the month, dragged down by yield alternatives funds, which lost 1.76% on the month (but are up 10.10% YTD) and multi-strategy funds, down 0.54% on the month (up 4.11% YTD). Fixed-income convertible arbitrage funds added 0.22% (5.34% YTD), fixed-income asset backed added 0.15% (5.14% YTD) and fixed-income corporate funds added 0.05% (2.30% YTD).
Equity hedge funds were down 0.69% in August (but up 6.72% YTD). Within this category, market neutral funds were down 0.40% (up 3.49% YTD) and quantitative directional funds were down 0.72% (up 4.83% YTD). On the other hand, energy/basic materials funds were up 0.26% (down 2.20% YTD), technology/healthcare funds were up 0.29% (12.54% YTD) and short bias funds were up 0.58% (down 11.71% YTD).
Macro funds were down 1.20% in August (down 2.28% YTD).
Emerging markets funds were down 0.77% in August (down 0.39% YTD), with Latin American funds reporting the biggest losses (1.29%) on the month, followed by global funds (down 1.27%) and Russia/Eastern Europe funds (down 0.85%). Asia ex-Japan funds were up 0.02% (1.25% 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…