Thursday, 24 July 2014
Last updated 6 hours ago
Oct 15 2013 | 9:49am ET
Hedge funds rose 1.65% in September as directional equity funds rode the rising stock market.
eVestment's Hedge Fund Aggregate is up 5.7% on the year, badly lagging the Standard & Poor's 500 Index, which is up 19.8% after adding 3.14% last month.
Stock funds drove the industry's gains, returning 2.65% in September (9.58% year-to-date). Long/short equity funds were up 2.95% (10.59% YTD), with technology funds adding 3.34% (8.82% YTD), small- and micro-cap funds 3.28% (13.99% YTD), energy funds 3% (9.03% YTD), financials funds 2.88% (11.55% YTD) and healthcare funds 2.42% (19.48% YTD).
Event-driven and distressed funds rose 1.91% on the month (8.48% YTD), multi-strategy funds 1.78% (2.32% YTD), equity-market neutral funds 0.98% (4.4% YTD), directional credit funds 0.83% (5.33% YTD), macro funds 0.35% (0.08% YTD) and relative-value credit funds 0.31% (3.1% YTD). Managed futures funds shed 0.67% in September (down 3.63% YTD) as commodity strategies dropped 1.15% (down 4.84% YTD).
Regionally, hedge funds focused on India cleaned up in September, jumping 9.52% to cut their year-to-date loss to 13.75%. Japanese funds rose 5.21% (27.51% YTD), Brazilian funds 5.18% (down 1.38% YTD), emerging Europe funds 3.47% (down 2.13% YTD) and African and Middle Eastern funds 3.45% (15.35% YTD).
eVestment also reported that hedge funds took in $21.45 billion in new money in August, the lion's share of the $30.32 billion in new inflows for the year. Credit hedge funds added $7.88 billion on the month and have taken in $55.26 billion on the year, while stock funds cut their 2013 net outflow to $6.27 billion with $6.31 billion in net inflows in August.
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…