Saturday, 23 August 2014
Last updated 22 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).
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note