Saturday, 20 December 2014
Last updated 17 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%.
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.