Saturday, 28 March 2015
Last updated 18 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…