Tuesday, 21 October 2014
Last updated 17 min 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.
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…
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