Tuesday, 22 July 2014
Last updated 8 hours 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).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…