Wednesday, 22 October 2014
Last updated 15 hours ago
Oct 15 2008 | 12:33pm ET
Barring a major turnaround in the next three months, there won’t be much to cheer about in hedge fund land. Just three of the 13 strategies tracked by the Credit Suisse Index Co. are in positive ground for the year; all lost ground last month, one of the worst in the history of the hedge fund industry.
Overall, the Credit Suisse/Tremont Hedge Fund Index is down 9.87% on the year after dropping 6.55% last month.
The worst-performing strategy by far is convertible arbitrage, which plummeted 12.26% in September, leaving the strategy down 19.45% on year. Other dismal performances were turned in by emerging markets funds (down 8.93%, up 18.07% year-to-date), long/short equity funds (down 7.81%, down 13.28% YTD), fixed-income arbitrage funds (down 6.8%, down 11.57% YTD) and global macro funds (down 6.63%, down 2.07% YTD).
Managed futures funds are up 6.7% on the year after shedding 0.57% last month, the best performance of any CS index. Dedicated short bias and equity market-neutral funds are also up in 2008, at 3.4% (down 6.08% in September) and 1.67% (down 1.41% in September), respectively.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...