Sunday, 21 December 2014
Last updated 8 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.”
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…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.