Saturday, 26 July 2014
Last updated 1 day ago
Sep 9 2008 | 12:36pm ET
Hedge funds saw their dismal 2008 continue in August, leaving the average hedge fund down about 5% on the year, according to a pair of indices from Hedge Fund Research.
The HFRI Fund Weighted Composite Index lost a further 1.37% last month (down 4.83% year-to-date), while the HFRX Global Hedge Fund Index shed 1.28% (down 5.05% YTD). The latter’s subindices show just one strategy, merger arbitrage, in the black last month at 0.56% (up 3.4% YTD), while the former shows just five of its 22 substrategies enjoyed a positive return in August.
Macro funds were among the worst performers in both sets of indices, with the HFRX Macro Index falling 3.94% in August (up 3.47% YTD) and the HFRI Marco (Total) Index dropping 1.16% (up 2.57% YTD). But macro’s woes are nothing compared to the pain being felt by emerging markets investors this year.
Last year’s top-performing strategy is down 14.48% in 2008 after plummeting 5.02%, according to the HFRI indices. Emerging markets funds around the world are suffering, none more so than Russia and Eastern Europe funds, which lost 9.39% last month (down 19.45% YTD).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…