Monday, 30 March 2015
Last updated 2 days ago
Dec 8 2005 | 5:06pm ET
After a tough ten months and an especially ugly October, hedge fund returns showed improvement in November, and some industry experts are optimistic that things may pick up further in December.
According to Hedge Fund Research, market directional funds showed the best performance during the month, up 3.58%, with global macro coming in second, up 3.13%. The worst performer was convertible arbitrage, which was down 0.33%.
Conrad Gann, president and chief operating officer of TrimTabs Investment Research, attributes November’s improved hedge fund performance to a large number of share buybacks and strong merger and acquisition activity.
“November had $71.2 billion in [share] buybacks, which is the highest we have on record,” said Gann, referring to TrimTabs’ historical data research. It was also “a strong month for announced mergers and acquisitions which involved cash,” he said.
HFR’s Merger Arbitrage Index was up 0.92%, while its Event Driven Funds Index, which tracks funds that also bet on M&A activity, showed returns of 1.49%.
Victor Park, director of Alternative Investment Asset Management, believes that there is a strong possibility of a yearend rally.
“It’s a stock pickers market,” he said. “I think the mood is ‘let it rip.’”
As for 2006, Gann believes that a hot space to be in will be multi-strategy funds. “Multi-strategy funds that can flexibly allocate will continue to gather assets,” said Gann.
Park said, with all of the cash sloshing around these days, “equities aren’t a bad place to be.”
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…