Wednesday, 1 April 2015
Last updated 34 min ago
Jul 8 2008 | 9:40am ET
Hedge funds’ recent rally wilted in the hot sun of June, according to Hedge Fund Research.
After two months of positive returns, hedge funds closed out the second quarter the same way they did the first: on a down note, with the HFRX Global Hedge Fund Index dropping 0.83% on the month. The index is now down 1.03% on the year.
Event-driven funds were by far the biggest losers in June, falling 3.35% on the month (down 4.02% year-to-date). Convertible arbitrage (down 1.77%, down 6.69% YTD), relative value arbitrage (down 1.55%, down 7.95% YTD) and equity hedge funds (down 1.06%, down 1.22% YTD) also saw big declines.
Just two of the eight HFRX strategy indices enjoyed an up June. Macro funds were almost as good as event-driven funds were bad, adding 3.25% on the month. Macro remains far and away the best-performing strategy this year, at 14.1%—almost six times better than its closest competitor, merger arbitrage, which is up 2.38% on the year after a 0.25% decline in June. Equity-market neutral funds also enjoyed a positive month, rising 1.02% in June (up 2.32% YTD).
The other five strategy indices are in the red year-to-date.
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…