Saturday, 25 October 2014
Last updated 1 day ago
May 21 2009 | 12:32pm ET
The Lyxor Global Hedge Fund Index dropped 0.45% in April, leaving it flat year-to-date.
Long/short equity managers with a long bias led the way last month, posting gains of 7.5%, followed by long/short credit (4.8%) and convertible arbitrage (1.6%). Both credit and convertible arb. managers benefited from general spread tightening, and new issuance in both markets points toward better liquidity. Convertible valuations improved toward less depressed levels, as evidenced by convertible implied volatility holding steady even as listed option volatility declined on the rally.
However, distressed managers lost 3.3% and medium- and longer-term trend followers, and commodity trading advisors, declined 1.8%, while their high-frequency peers posted losses of 0.7%.
Within the event driven space, merger arbitrage and special situations managers both posted losses of 1.7% and 0.2% respectively. Market neutral funds were down 0.6% and statistical arbitrage did not fare any better losing 0.4%.
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.