Friday, 29 August 2014
Last updated 10 hours ago
Sep 13 2013 | 8:56am ET
The Hennessee Hedge Fund Index lost 0.50% in August, putting its year-to-date gains at 6.45%.
Equity long/short were down 0.55% (up 10.56% YTD), arbitrage/event-driven funds were down 0.20% (up 5.54% YTD), global/macro funds were down 0.64% (up 1.50% YTD) and fixed-income funds were down 0.20% on the month (up 2.63% YTD).
The bright spots, strategy-wise, were short-biased funds, up 1.86%; convertible arbitrage, up 1.42% in August; technology funds, up 0.94%; healthcare and biotech, up 0.40%; high-yield funds, up 0.05%; and opportunistic funds, up 0.04%.
In regional terms, Asia-Pacific funds were down 1.29% on the month (up 0.84% YTD), Latin American funds were down 1.24% on the month (down 5.31% YTD) and Europe funds were down 0.96% (but still up 8.64% YTD).
“In one of the most volatile months since May of 2012, hedge funds did what they do best, capital preservation,” said Charles Gradante, co-founder of Hennessee Group, in a statement. “Several factors, such as whispers that the Fed may taper its monthly bond purchases, the continued steepening of the yield curve, and possible U.S. involvement in the Middle East, led to a rout in equities during August. Nonetheless, hedge funds trail equities as ‘don’t fight the Fed’, rather than valuation, rules this market.”
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...