Thursday, 28 May 2015
Last updated 5 hours ago
Sep 17 2013 | 11:30am ET
Hedge funds sank with stocks last month, but took on far less water than the broader markets.
The average hedge fund fell 0.54%, according to the Credit Suisse Hedge Fund Index. By contrast, the Standard & Poor's 500 Index lost 2.9% in August. Still, the broad-market equity index is up more than 16% on the year, compared to just 4.03% for the hedge fund benchmark.
Hedge fund strategies posted mixed results on the month. Convertible arbitrage funds had the best August, rising 0.72% (4.47% year-to-date). Fixed-income arbitrage added 0.21% (1.95% YTD), event-driven multi-strategy 0.16% (8.5% YTD), multi-strategy 0.08% (5.12% YTD), dedicated short-bias 0.03% (down 17.36% YTD) and risk arbitrage 0.01% (2.95% YTD).
Managed futures funds took the biggest hit last month, falling 2.77% (down 7.26% YTD). Equity-market neutral fell 1.72% (up 3% YTD), long/short equity 1.11% (up 7.98% YTD), global macro 0.92% (up 0.66% YTD), distressed 0.48% (up 8.87% YTD), emerging markets 0.24% (up 2.87% YTD) and event-driven 0.04% (up 8.6% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…