Tuesday, 29 July 2014
Last updated 6 hours ago
Jun 9 2009 | 7:07am ET
Another hedge fund index shows a big advance for the industry last month, although it says hedge funds continued to trail the broader markets.
The Credit Suisse/Tremont Hedge Fund Index added 3.61% in May, according to early estimates based on 62% of assets reporting. May’s performance pushed in the index up to 6.25% for the year, well ahead of the Standard & Poor’s 500 Index, which jumped 5.59% last month to reach 2.96% year-to-date.
All strategies save for managed futures rose last month. Emerging markets funds, which posted a dreadful 2008, enjoyed the best month, adding 7.04%. The strategy is now the best performer year-to-date at 12.52%. Fixed-income arbitrage funds added 6.45% (12.05% year-to-date), convertible arbitrage funds returned 6.03% (19.38% YTD) and equity-market neutral funds rose 5.06% (2.71% YTD).
Multi-strategy funds returned 4.3% in May (10.52% YTD) and long/short equity funds advance 4.14% (7.12%). Event-driven funds added 4.31% (5.66% YTD), led by event-driven multi-strategy funds, which jumped 4.99% (6.7% YTD). The other event-driven substrategies, distressed and risk arbitrage, did less well, returning 3.09% (3.75% YTD) and 0.45% (3.94% YTD), respectively.
Global macro funds rose 1.52% (4.33% YTD) and dedicated short-bias funds added 0.97% (down 7.63% YTD) after April’s disastrous 9.57% drop.
The lone loser in amidst May’s advances, managed futures funds shed 0.2% (down 6.22% YTD).
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…