Friday, 31 October 2014
Last updated 13 hours ago
Dec 3 2007 | 7:42am ET
It scarcely seems possible, but last month may have been worse for hedge funds than subprime-scarred August, according to early figures from Hedge Fund Research.
Investable hedge funds on average lost 2.78% in the first 28 days of November. While overall hedge fund indices tend to outperform the investable universe, the returns indicate that hedge funds could suffer their second decline of more than 2% this year. If they do, August and November 2007 would be the only two such months recorded by HFR since April 2000.
The worst-performing strategy last month was long/short equity, which declined 4.34%, followed by event-driven funds, which were down 3.67%. Convertible arbitrage funds fell 2.84%.
All investable hedge fund strategies tracked by HFR were in negative territory, with the strongest result coming from distressed debt funds, which lost a mere 0.56%.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.