Lyxor Hedge Fund Index Flat

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%.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR