Little To Cheer About In HFRX Indices

Aug 11 2008 | 10:14am ET

The depth of the hedge fund industry’s July funk become clearer and clearer with each hedge fund index release.

Hedge Fund Research’s HFRX Indices show just one of eight strategies in the black last month, with three others falling by at least 2%. The bloodbath leaves just three of the strategy indices in positive ground for the year, while the other five are down by at least 4.5% year-to-date.

Overall, the HFRX Global Hedge Fund Index fell by 2.82% in July and is down 3.83% on the year. Merger arbitrage was the only strategy index to record a positive return last month, adding 0.44% (up 2.83% YTD), while equity-market neutral funds came close, declining just 0.03% (up 2.3% YTD).

Elsewhere, there was very little good news. Macro funds, still the best-performing strategy of 2008, according to HFR, fell 5.59% on the month (up 7.72% YTD). Equity hedge funds lost 3.45% (down 4.63% YTD) and convertible arbitrage funds lost 1.82% (down 8.39% YTD). Relative value funds remain the worst-performing strategy after losing 2.26% in July (down 10.03% YTD).

Distressed securities funds lost 1.48% (down 4.84% YTD) and event-driven funds 0.83% (down 4.81% YTD).

 


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.