Tuesday, 21 October 2014
Last updated 5 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.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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