Sunday, 19 October 2014
Last updated 2 days ago
Oct 3 2013 | 3:20am ET
Hedge funds returned to the positive in September, but were unable to repeat August's feat of beating the broader markets.
The average hedge fund rose 0.96% last month, according to Hedge Fund Research's HFRX Global Hedge Fund Index, while the Standard & Poor's 500 Index added more than 3%. The benchmark is up 4.29% on the year; the S&P500 is up nearly 20%.
Most strategies tracked by the HFRX suite were in the black to close out the third quarter, led by special situations funds, which rose an average of 2.96% (14.19% year-to-date). Fundamental growth funds added an average of 2.11% (0.74% YTD), event-driven funds 2.1% (10.87% YTD), equity hedge funds 1.36% (6.67% YTD) and fundamental value funds 1.1% (10.69% YTD).
Master-limited partners rose 0.89% on average, and at 18.03% are the best-performing strategy of the year. Credit hedge funds added 0.53% (5.68% YTD), distressed restructuring funds 0.52% (4.68% YTD), convertible arbitrage funds 0.46% (9.64% YTD), relative-value arbitrage funds 0.42% (1.73% YTD), merger arbitrage funds 0.41% (2.84% YTD), multi-strategy funds 0.37% (0.17% YTD) and emerging markets funds 0.28% (0.77% YTD).
On the other side of the ledger, systematic diversified commodity trading advisers shed 0.59% on the month (down 4.03% YTD), macro funds and CTAs 0.26% (down 2.69% YTD) and equity-market neutral funds 0.05% (down 0.48% YTD).
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...