Saturday, 28 November 2015
Last updated 5 hours ago
Mar 5 2014 | 1:19pm ET
Hedge funds enjoyed broad gains last month, although they lagged the Standard & Poor's 500 Index.
The average hedge fund rose 1.59% in February, according to the HFRX Global Hedge Fund Index. The benchmark, which lost 0.24% in January, is up 1.34% on the year.
By contrast, the S&P500 rose more than 4% last month and ended February at record highs.
With the exception of macro funds, all hedge fund strategies tracked by Hedge Fund Research posted gains in February. Fundamental growth funds led the way with a 4.16% jump (4.54% year-to-date), followed by special situations funds (2.99% in February, 3.17% YTD), equity hedge funds (2.67%, 1.63% YTD), event-driven funds (2.55%, 2.95% YTD) and fundamental value funds (2.22%, 0.46% YTD).
Distressed restructuring funds added 1.59% on the month (2.68% YTD), convertible arbitrage funds 1.51% (2.16% YTD), credit funds 1.36% (1.97% YTD), relative-value arbitrage funds 1.33% (1.13% YTD), multi-strategy funds 1.28% (0.9% YTD) and master-limited partnerships 1.22% (2.82% YTD). Emerging markets funds rose 0.8% (down 0.07% YTD), equity market neutral funds 0.73% (1.45% YTD) and merger arbitrage funds 0.07% (0.16% YTD).
Macro funds and commodity trading advisers shed 0.75% in February (down 0.82% YTD), with systematic diversified CTAs hardest hit, down 1.42% on the month (down 1.23% YTD).
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…