Monday, 30 March 2015
Last updated 2 days ago
Sep 18 2013 | 10:40am ET
Hedge funds edged lower in August on fears about Syria and the Federal Reserve's plan for its bond-buying program.
The Barclay Hedge Fund Index dropped 0.54%, cutting its year-to-date return to 5.2%. The decline was significantly lower than that suffered by the broader markets, with the Standard & Poor's 500 Index giving back more than 3% on the month.
Short-bias funds feasted on the selloff, rising 3.04% on the month. Fixed-income arbitrage funds rose an average of 0.73%, convertible arbitrage funds 0.69% and technology funds 0.62%. None of those strategies are among BarclayHedge's best performers for the year—indeed, short-bias is far-and-away its worst performer, down 17.05% through August. Leading the pack in 2013 is healthcare and biotechnology, up 15.97%, Pacific Rim equities, up 14.35%, equity long-bias, up 11.42% and distressed securities, up 10.64%.
August's biggest losers were emerging markets (down 1.37%), global macro (down 1.27%), equity long-bias (down 0.74%) and equity long/short (down 0.59%).
"Uncertainty over the Fed's tapering timeline and possible U.S. military intervention in Syria were primary drivers of an August global equities selloff," BarclayHedge founder Sol Waksman said. "Rising U.S. interest rates raised fears of fund outflows from net debtor emerging countries that rely on foreign investment."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…