EDHEC, Canadian Indices Sink In July

Aug 21 2008 | 12:31pm ET

Hedge funds had a rough July, around the world and north of the border.

Just three of the 13 EDHEC Alternative Indexes were in positive ground last month, while Scotia Capital’s Hedge Fund Performance Index for Canada sank 8.61%.

Battered by the falling commodities markets, the EDHEC CTA Global index fell 3.38%, but remained the second-best performing strategy on the year at 9%.

On the brighter side, short-selling hedge funds—the best-performer on the year at 12.8%—were up 0.7%, merger arbitrage funds were up 0.27% (up 0.9% year-to-date) and fixed-income arbitrage funds were flat.

Only two other strategies have positive returns for the year: equity-market neutral at 1.8% and global macro at 1.1%. On the other side, last year’s best strategy, emerging markets, is this year’s worst, down 8.7%, and convertible arbitrage is down 5%.

Canadian hedge funds are up 1.26% on the year, according to Scotia.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note