Wednesday, 22 October 2014
Last updated 6 hours ago
May 16 2014 | 1:12pm ET
Hedge funds fell for the second month in a row in April, as long/short equity strategies failed once again to keep up with the broader markets.
The Credit Suisse Hedge Fund Index fell 0.21% last month, cutting its year-to-date gain to 0.73%. By contrast, the Standard & Poor's 500 Index rose 0.62% on the month and is up 1.93% on the year.
Long/short equity funds suffered the heaviest losses in April, dropping 1.03% (up 0.54% year-to-date). Equity market neutral funds fell 0.7% (down 0.95% YTD), emerging markets funds 0.58% (down 2.59% YTD), multi-strategy funds 0.43% (up 1.52% YTD) and event-driven multi-strategy funds 0.14% (up 2.69% YTD).
Short-bias funds enjoyed the strongest month of any strategy, in spite of the S&P's gains. Such funds added 3.77% in April (down 0.56% YTD). Risk arbitrage funds advanced 0.55% (1.28% YTD), fixed-income arbitrage funds 0.44% (2.52% YTD), managed futures funds 0.42% (down 3.89% YTD), distressed funds 0.37% (3.45% YTD), convertible arbitrage funds 0.33% (2.8% YTD), event-driven funds 0.03% (2.93% YTD) and global macro funds 0.01% (down 0.6% 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…
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