Friday, 21 November 2014
Last updated 2 hours ago
Jul 9 2014 | 9:25am ET
Hedge funds continued to sputter in June, closing out the first half of the year far behind the broader markets, according to Hedge Fund Research.
The HFRI Fund Weighted Composite Index added 1.31% last month to end the first half up 3.2%. By contrast, the Standard & Poor’s 500 Index is up more than 6% on the year.
A handful of strategies tracked by the HFRI suite were able to top that. India-focused funds have soared 33.36% this year (5.49% in June), and energy and basic materials funds are up 11.36% (3.81%). Yield alternatives funds returned 9.72% in the first half (1.96% in June) and Middle East and North Africa funds 7.24% (down 0.34% in June).
Distressed and restructuring funds rose 5.41% on the half (1.39% in June), relative value funds 4.84% (1.02%), volatility funds 4.8% (1.02%), special situations funds 4.56% (1.57%), event-driven funds 4.26% (1.27%), convertible arbitrage funds 3.46% (0.53%), commodity funds 3.44% (1.06%), Equity hedge funds 3.32% (1.73%), emerging markets funds 2.88% (1.47%), quantitative directional funds 2.4% (0.79%), merger arbitrage funds 2.03% (0.95%), equity-market neutral funds 1.84% (0.03%), activist funds 1.82% (down 0.37%) and macro funds 1.09% (0.8%).
Several strategies ended the first half in the red. Short-bias funds were predictably hurt by the continuing surge in stock prices, falling 3.68% through June (down 1.64% in June itself). Currency funds swung to a loss last month, dropping 0.89% to end the first half down 0.81%. Hedge funds focused on Russian and Eastern Europe and Japan also suffered, with the former dropping 1.4% (up 2.9% in June) and the latter 0.89% (up 3% in June).
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...