Bleak July For Investable Funds: RBC

Aug 12 2008 | 3:10pm ET

Investable hedge funds fell by 2.37% in July, according to the latest numbers from RBC Capital Markets.

Just one of the nine strategies tracked by RBC was in positive ground last month as the RBC Hedge 250 Index saw its year-to-date loss expand to an estimated 4.2%. Mergers and special situations funds in particular took it on the chin, losing 3.1% in July (down 2.34% year-to-date).

Convertible arbitrage funds also took a big hit, falling 2.84% on the month (down 3.57% YTD). Other big losers included equity long/short and multi-strategy funds, with declines of 2.76% (down 3.09% YTD) and 2.52% (down 8.87% YTD), respectively. Multi-strategy funds have been the worst-performing category in the RBC index this year.

Fixed-income arbitrage was the only strategy in the black last month, according to RBC, returning 1.39% (down 0.86% YTD). Managed futures funds, despite a 1.88% drop in July, remain the best-performing strategy of the year at 9.18%. Only one other strategy, macro, is in positive ground in 2008, with a year-to-date return of 2.96% after a 1.13% decline last month.

Event-driven credit hedge funds and equity-market neutral offerings declined 2.19% (down 6.36% YTD) and 2.2% (down 1.18% YTD), respectively.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of