Tuesday, 29 July 2014
Last updated 19 hours ago
Jun 10 2014 | 1:22pm ET
Hedge funds more than doubled their year-to-date returns in May, according to an industry benchmark, although the figure remains pretty pedestrian.
The average hedge fund rose 1.16% last month, the HFRI Fund Weighted Composite Index shows. The index is up 1.99% in 2014—less than the 2.1% earned by the Standard & Poor’s 500 Index last month alone.
Emerging markets and activist funds were the best performers in May, with the former up 3.18% (2.21% year-to-date) and the latter 3.5% (3.67% YTD). India- and Russia and Eastern Europe-focused funds were especially strong, with gains of 12.91% (25.12% YTD) and 9.06% (down 1.2% YTD), respectively.
Global emerging markets funds earned 2.62% on the month (2.97% YTD), yield alternatives funds 2.56% (8.01% YTD), Asia ex-Japan funds 2.46% (2.08% YTD) and fundamental growth funds 2.31% (1.86% YTD).
Volatility funds added 1.66% in May (4.49% YTD), equity hedge funds 1.37% (1.71% YTD), technology and healthcare funds 1.23% (1.65% YTD), relative-value funds 1.16% (4.11% YTD), systematic diversified funds 1.12% (down 0.46% YTD), special situations funds 0.99% (3.2% YTD), macro funds 0.85% (0.31% YTD), distressed and restructuring funds 0.83% (3.92% YTD), currency funds 0.66% (0.01% YTD), merger arbitrage funds 0.51% (1.04% YTD) and convertible arbitrage funds 0.5% (2.98% YTD).
Commodity funds took a hit last month, falling 2.03% (1.46% YTD). Short-bias funds, hurt by rising stocks, fell 1.53% (down 1.83% YTD).
Funds of hedge funds added 1.07% in May (0.88% YTD).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…