Thursday, 18 September 2014
Last updated 4 hours ago
Apr 15 2009 | 11:07am ET
For hedge funds, March certainly came in a like a lion, but it went out like a lamb, according to the RBC Hedge 250 Index.
The index added 0.46% last month after dropping 0.96% in February. It returned 0.75% in the first quarter, as all but two of the nine strategies tracked by RBC Capital Markets were in positive ground both in March and the first quarter.
Convertible arbitrage funds remain the best performer to date this year, rising 6.36% last month. The strategy soared 19.06% in the first quarter, several heads and shoulders above the second-best performer in Q1, fixed-income arbitrage, which returned 2.89% in the first three months of the year after a 1.26% jump last month.
Macro funds rose 1.48% on the month (1.21% year-to-date), equity long/short funds rose 0.71% (0.32% YTD), mergers and special situations funds rose 0.57% (1.42% YTD), multi-strategy funds rose 0.44% (2.63% YTD) and equity market-neutral funds 0.27% (2.43% YTD).
The only two strategies to lose ground in March were the only two to drop for the quarter. Managed futures funds fell 2.24% to wipe out its year-to-date gains, leaving them down 0.44% on average for the quarter. Credit hedge funds lost 0.15% last month, leaving them down 2.1% on average.
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.