RBC: Hedge Funds Down 7.7% In Sept., 13.2% In 2008

Oct 15 2008 | 2:00am ET

In case you hadn’t heard, September was not a good month for hedge funds.

The latest industry index to play the role of bearer of really bad news is the RBC Hedge 250 Index, which fell 7.67% last month. The index is down 13.17% year-to-date.

All strategies tracked by RBC Capital Markets, with the exception of managed futures funds, posted losses in September.

Convertible arbitrage and multi-strategy funds fared particularly badly, dropping 21% (down 24.49% YTD) and 14.54% (down 22.44% YTD), respectively. Event-driven credit funds and mergers and special situations funds were little better, losing 7.71% (down 17.41% YTD) and 7.49% (down 15.82% YTD), respectively, while fixed-income arbitrage funds lost 7.3% (down 7.19% YTD).

The sole bright spot, managed futures funds, added 1.03% last month. The strategy is also the only one tracked by RBC in the black on the year, with a year-to-date return of 8.28%.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...