Thursday, 30 October 2014
Last updated 1 hour 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.