Thursday, 18 September 2014
Last updated 5 hours ago
Nov 17 2008 | 9:04am ET
The RBC Hedge 250 Index shed 5.4% last month as the financial crisis continues to ravage the industry.
October’s loss follows September’s 8.05% slide, and leaves the index down 18.2% on the year. Fixed-income arbitrage, convertible arbitrage and event-driven credit hedge funds were especially hard-hit, plummeting 15.44% (down 21.81% year-to-date), 13.6% (down 34.05% YTD) and 11.73% (down 27.43% YTD), respectively. Also in the red last month were multi-strategy, mergers and special situations, and equity long/short funds, which lost 9.38% (down 29.87% YTD), 5.6% (down 21.29% YTD) and 3.67% (down 13.72% YTD), respectively.
On the other hand, the RBC index, which covers investable hedge funds, had more good news that some other indices. Three of the nine strategies covered enjoyed October gains, with macro and equity-market neutral funds adding 0.98% (down 5.59% YTD) and 0.72% (down 4.16%), respectively. The only strategy in the black for the year, managed futures, also posted the best returns of any strategy last month, adding 3.32% (up 11.91% YTD). In September, managed futures was the only strategy in positive ground.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.