Thursday, 25 December 2014
Last updated 1 day ago
Apr 3 2014 | 11:27am ET
Hedge funds closed out an uninspiring first quarter with a loss.
Hedge Fund Research’s HFRX Global Hedge Fund Index dropped 0.23% in March, leaving it up just 1.11% through the year’s first three months. Adding insult to injury, the industry failed to take advantage of a pedestrian quarter for the Standard & Poor’s 500 Index, which rose just 1.8% during the period, continuing its recent dominance over hedge funds.
Master-limited partnerships cemented their lead as the best-performing hedge funds of the year so far, rising 2.04% in March (4.92% year-to-date). No other strategy tracked by the HFRX suite returned even 1% in March, with distressed restructuring funds second best at 0.64% (3.34% YTD).
Equity market neutral funds added 0.64% on the month (2.09% YTD), credit funds 0.43% (2.41% YTD) and merger arbitrage funds 0.29% (0.46% YTD).
The other 11 strategies and substrategies tracked by HFR went out like a lamb in March, indeed. Systematic diversified commodity trading advisers had the worst of it, falling 1.75% to extend their quarterly worst decline to 2.95%. Fundamental growth funds shed 0.88% in march (up 3.62% YTD), special situations funds 0.4% (up 2.75% YTD), equity hedge funds 0.37% (1.25% YTD), emerging markets funds 0.32% (down 0.39% YTD), fundamental value funds 0.25% (up 0.21% YTD), multi-strategy funds 0.22% (up 0.67% YTD), macro funds and CTAs 0.22% (down 1.04% YTD), relative-value arbitrage funds 0.18% (up 0.94% YTD), event-driven funds 0.13% (up 2.82% YTD) and convertible arbitrage funds 0.02% (up 2.14% YTD).
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.