Saturday, 28 March 2015
Last updated 12 hours ago
Jun 27 2008 | 12:53pm ET
Statistics released this month by BNY Mellon Asset Servicing showed that funds of hedge funds failed to produce positive returns during the first quarter of 2008, dropping an average of 4%, extending the group’s negative returns to three consecutive quarters.
Funds of hedge funds were however, outperformed by property (down 3.5%), U.K. bonds (down 1.1%) and cash (up 1.3%). But despite their relatively weak performance, fund of hedge funds managers still outperformed other key investment sectors, including British and overseas equity pooled funds, which fell 9.7% and 9.5%, respectively.
“Along with one of the worst starts ever to a year for the equity markets, pooled funds of hedge funds also suffered from negative returns in January and March, producing the lowest quarterly return we have seen,” said Alan Wilcock, performance and risk analytics manager at BNY Mellon Asset Servicing.
According to the bank, the average fund of hedge funds held 48.4% of its assets in directional strategies, 13.1% in event driven strategies, 17.2% in non-directional strategies and 21.4% in other (unspecified) strategies and cash, as of the end of March.
BNY Mellon Asset Servicing's fund of hedge funds universe currently covers 19 separate funds with over £4.9 billion in assets (US$9.6 billion).
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…