Thursday, 18 December 2014
Last updated 7 hours ago
Dec 6 2006 | 12:32pm ET
Another month, another hedge-fund beating at the hands of the Standard & Poor’s 500.
According to Hedge Fund Research’s HFRX global and strategy indices, hedge funds didn’t lose by much: The HFRX Global Hedge Fund Index returned 1.54% in November, the S&P500 1.65%. But on the year, it’s no contest and hedge funds will need a Christmas miracle to reach double-digits this year, as the HFRX Global index sits at 7.56% year-to-date. The broad-market S&P500, on the other hand, is up 12.2% YTD.
On the bright side, only one of the eight strategies tracked by HFR was in the red last month: equity-market neutral, which dipped 0.53% and has returned only 3.82% YTD. Of the others, equity hedge (up 1.89% in November, 7.62% YTD) and event-driven (up 1.85% last month, 9.39% YTD) were the best performers. Also besting the overall HFRX Global index YTD are merger arbitrage (up 1% in November, 9.86% YTD), relative-value arbitrage (up 1.15% last month, 8.81% YTD) and convertible arbitrage (up 0.6% in November, 8.13% YTD).
The real money this month—and YTD—is in the HFRX Market Directional Index, which returned 2.4% on the month to reach 9.3% on the year. Absolute return funds were not so lucky: the HFRX Absolute Return Index rose just 0.49% last month, and sits at 6.09% YTD.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.