Friday, 26 December 2014
Last updated 1 day ago
May 16 2008 | 10:57am ET
Hedge funds able to capitalize on last month’s stock market rally, along with those investing in emerging markets, topped their peers during a strong April for hedge funds, new figures from Hedge Fund Research show.
Equity hedge funds surged on the back of April’s market rally, which drove the Standard & Poor’s 500 Index up 4.87%. The HFRI Equity Hedge (Total) Index rose 2.59% (down 3.46% year-to-date), with quantitative directional and energy/basic materials funds returning 2.72% (down 2.8% YTD) and 2.16% (down 1.59% YTD), respectively.
Short-bias funds, unsurprisingly, did much less well, falling 3.1% in April. Those funds remain, on average, up 4.25% on the year.
Emerging market funds fared even better, with the HFRI Emerging Markets (Total) Index jumping 2.57%. Last year’s top-performing strategy remains down 4.82% in 2008. Asia ex-Japan funds rose 3.94% (they remain down 8.45% year-to-date), while Latin America funds added 3.22% to get back into the black year-to-date at 1%.
Overall, the HFRI Fund Weighted Composite Index added 1.65% last month, though it remains down 1.81% on the year. Funds of hedge funds rose 1.06%, and are down 3.15% year-to-date.
Relative value funds added 1.33% last month (down 2.17% YTD) and event-driven funds returned 1.08% in April (down 2.45% YTD). Macro was the only major strategy tracked by the HRFI indices in the red last month with a 0.15% loss, though it remains the only major strategy in positive ground on the year at 3.99%.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.