Wednesday, 30 July 2014
Last updated 1 hour ago
Aug 6 2009 | 1:02pm ET
Hedge funds kicked off the third quarter by returning to their winning ways, according to Hedge Fund Research.
The HFRX Global Hedge Fund Index, which was essentially flat in June, rose 1.59% last month. The July return pushed the index’s year-to-date return to 7.25%.
Nearly all of the strategies tracked by the HFRX indices were in the money last month, none more so than convertible arbitrage, which remained the strategy to beat for the year. Convertible arb funds rose an average of 6.73% last month, and are up 28.55% on the year. Multi-strategy relative value arbitrage, market directional and relative value arbitrage funds also posted big returns in June, rising 4.15% (21.05% year-to-date), 3.82% (16.92% YTD) and 3.67% (20.52% YTD), respectively.
Special situations funds added 1.82% (12.24% YTD), event-driven funds 1.53% (10.72% YTD), equity hedge funds 1.51% (7.57% YTD) and macro funds 0.07% (down 5.89% YTD).
Just four of the 18 substrategies and regional indices tracked by HFRX lost ground last month. Distressed securities funds fell 1.28% (down 9.82% YTD), systematic diversified funds lost 1.18% (down 10.5% YTD, the worst performer through the first seven months of the year), equity market-neutral funds sed 1.11% (down 4.55% YTD) and absolute return funds dropped 0.58% (down 3.13% 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…