Monday, 20 October 2014
Last updated 3 hours ago
Aug 19 2008 | 9:59am ET
As with most hedge fund indices in July, Hedge Fund Research’s HFRI Indices offer very little in the way of good news.
The overall HFRI Fund Weighted Composite Index fell 2.17% last month and is down 3.43% on the year. Just five HFRI substrategies were in the black in July, and just seven have positive returns in what has been a very bleak year-to-date.
Macro funds lost 2.78% on the month (up 3.71% year-to-date) and equity hedge funds declines 2.63% (down 6.29% YTD). Event-driven funds fell by 1.33% (down 3.61% YTD) and relative-value funds by 0.36% (down 1.72% YTD). Emerging markets funds continued to have difficulty in 2008, falling by 3.07% in July to bring their year-to-date loss to 9.76%.
Among substrategies, energy and basic materials funds were the biggest losers with an average decline of 6.97% (down 3.58% YTD), followed by systematic diversified funds, which fell 3.9%, but remain the year’s second-best performer with year-to-date return of 7.65%. Russia and Eastern Europe was the worst-performing region among emerging markets, with a 7.05% drop (down 10.69% YTD).
The only strategies in the black in July were fixed-income asset-backed relative value funds (up 1.31% in July, up 3.22% YTD), yield alternatives funds (up 0.55%, down 2.55% YTD), merger arbitrage funds (up 0.37%, down 0.22% YTD), private issue/Regulation D funds (up 0.29%, up 1.14% YTD) and short bias funds (up 0.07%, up 10% YTD).
Funds of hedge funds fell 2.73%, and are now down 5.03%, according the HFRI Fund of Funds Composite Index.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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