Saturday, 25 October 2014
Last updated 1 day ago
Dec 20 2013 | 12:19pm ET
Hedge funds won't have much to celebrate this holiday season, according to one industry index.
The Barclay Hedge Fund Index rose just 0.71% in November, far behind the Standard & Poor's 500 Index's 2.8% jump last month. For the year, the numbers are no better: With just a month to go, the Barclay benchmark is in striking distance of double-digits at 9.84%—but the S&P500 was up 26% through November.
Sixteen of the 18 strategies tracked by BarclayHedge were in the black last month, led by healthcare and biotechnology, up 3.05% (25.66% year-to-date). "In spite of a dismal launch that raised concerns about Obamacare's longer-term success, healthcare was the top-performing sector in November as well as year-to-date," BarclayHedge founder Sol Waksman said.
Distressed securities funds added an average of 1.71% in November (15.89% YTD), global macro 1.68%, equity long-bias 1.55% (19.23% YTD), European equities 1.37% and Pacific Rim equities 1.24% (20.63% YTD).
Equity short-bias has had as bad a year as healthcare has enjoyed a good: The strategy is down 25.32% after dropping 2.01% last month; the result is worse even than its record loss last year of 24.12%. Emerging markets funds also lost ground in November, falling 0.53%.
The Barclay Fund of Funds Index rose 1.01% on the month (7.22% 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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.