Monday, 31 August 2015
Last updated 46 min ago
Nov 8 2006 | 12:01pm ET
October was a good month for hedge funds. Unfortunately for them, the broader markets had a better month.
A pair of indices showed hedge funds up almost 2% in October, lagging the Standard & Poor’s 500’s 3.15% return for the month. The Hedge Fund Research indices posted a 1.98% gain to hit 9.22% on the year last month—the S&P500 sits at 10.39% year-to-date—while the Barclay Group’s index rose 1.84% on the month.
All but one strategy tracked by HFR rose in October, with emerging markets continuing to lead the way. Asian-focused funds were up 3.45% on the month (16.54% YTD), while those investing in former Soviet-bloc nations rose 1.31% (23.71% YTD, the best of any strategy).
The only loser last month was the HFRI Short Selling index, which dropped 1.27% last month. It is also the only strategy in the red year-to-date, down 1.8%.
Other laggards for the first 10 months of the year include the equity hedge index, which rose 2.09% in October (8.2% YTD), equity non-hedge, with a big October at 3.2% (9.18% YTD), macro 1.35% (4.61% YTD), and relative-value arbitrage, which returned 1.35% on the month (9.12% YTD).
Funds of funds in the HFR indices are also far behind the broader markets, rising 1.56% last month to 6.4% YTD.
Winners on the year so far include convertible bond funds, up 1.34% in October (12.31% YTD), merger arbitrage, which rose 1.66% (11.76% YTD), and event-driven, up 1.73% last month (almost 11% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…