Tuesday, 31 March 2015
Last updated 12 hours ago
Jul 9 2009 | 4:13am ET
Hedge funds’ best month in a decade proved a hard act to follow. The average hedge fund was essentially flat last month after May’s powerful performance, with performance across strategies decidedly mixed, according to Hedge Fund Research.
The HFRI Fund Weighted Composite Index added 0.13% in June, ending the first half up 9.41%. Most strategies rose or fell less than 1% on the month, with the exception of relative value vehicles.
The average relative value fund added 1.88% (12.96% year-to-date), while corporate fixed-income relative value funds jumped 3.22% (14.51% YTD), the best of any strategy or substrategy in June, and fixed-income convertible arbitrage added 2.64% (the strategy’s 29.85% first-half return is tops among those tracked by the HFRI indices).
Event-driven funds also enjoyed a relatively strong June, added 1.63% (10.05% YTD), and emerging markets continued their comeback from last year’s disaster with a 0.65% return (20.35% YTD).
Other strategies were less lucky. Macro funds shed 1.93% on the month (down 3.37% YTD). Equity hedge funds were basically flat with a 0.11% decline (11.92% YTD), but two substrategies took a beating. Energy and basic materials funds shed 3.12% (up 18.99% YTD), which short-bias funds dropped a further 1.61% (down 9.87% YTD).
Funds of hedge funds rose 0.35%, according to HFR, ending the first half up 5.24%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…