Wednesday, 23 July 2014
Last updated 13 hours ago
Dec 12 2006 | 10:09am ET
A hedge fund index has finally beaten the Standard & Poor’s 500, at least for a month.
Early estimates from HedgeFund.net show its HFN Hedge Fund Aggregate Average and HFN Fund of Funds Aggregate Average, as well as most of their subindices, bested the S&P in November, the former returning 2.18% and the 1.79% to the S&P500’s 1.65%. But on the year, the broad-market S&P is still tops at 12.2%, while the hedge fund index lags at 10.65% and the fund of funds index at 7.92%.
However, as an equal-weighted index, HFN’s numbers are known to skew towards younger, smaller and historically better performing hedge funds.
That said, November’s numbers already have HFN’s indices above their full-year returns for 2004 and 2005. The month was particularly kind to the HFN Energy Sector Average, which rose 4.76% on the month (14.89% year-to-date) on the back of rising oil and gas prices. CTA/managed futures enjoyed strong returns, as well, at 3.05% in November (6.94% on the year), along with emerging markets (2.87% in November, 17.96% YTD) and HFN Asia regional average (2.7%, 7.17% YTD).
The only strategies lagging the S&P last month were convertible arbitrage, up just 0.8% (but 11% YTD), equity market-neutral (1.1%, 6.02% YTD) and macro (1.45%, 7.85% 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…