Friday, 27 March 2015
Last updated 4 hours ago
Apr 13 2009 | 2:06am ET
Hedge funds bounced back in March, erasing their February losses and finishing the first quarter in positive territory, according to preliminary figures from Greenwich Alternative Investments.
The average hedge fund added 1.5% last month, badly lagging the equities rally: The Standard & Poor’s 500 Index returned 8.8% in March. But the Greenwich Global Hedge Fund Index trounced the broader markets in the first quarter, ending the first three months of the year up 0.4% while the S&P500 is down 11%.
Three out of four major strategy groups tracked by Greenwich AI finished March up, led by specialty strategies funds, which returned 3.1% (1.9% year-to-date), and long/short equity funds, which returned 2.5% (down 0.1% YTD). Market neutral funds rose 0.9% last month (1.6% YTD), while direction trading funds shed 1.1% on the month (down 0.7% YTD).
Among individual strategy indices, emerging markets finished on top, rising 4.8% in March (1% YTD). Value funds (3.3% in March, 0.4% YTD), convertible arbitrage funds (2.9%, 9.6% YTD), growth funds (2.7%, down 0.6% YTD) and special situations funds (2.5%, 2.4% YTD) also enjoyed an above-average March.
Just three of Greenwich AI’s strategy indices ended the month in the red: Short-sellers were victimized by the equities rally, dropped 5.7% (down 1.4% YTD), while futures funds (down 2%, down 2.1% YTD) and arbitrage funds other than convertible, fixed-income and statistical (down 1.7%, down 0.5% YTD) also lagged.
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…