Tuesday, 30 September 2014
Last updated 13 min ago
Sep 9 2009 | 12:06pm ET
The average hedge fund is up by double-digits after their sixth straight month of positive performance, early indications from one major industry index shows.
The Credit Suisse/Tremont Hedge Fund Index will finish August up 11.74%, based on preliminary figures from the Credit Suisse Index Co. The index rose 1.68% last month, although Credit Suisse noted a “wide dispersion in returns,” with short-sellers doing better amidst August’s volatility.
Convertible arbitrage funds remained the best-performing strategy of the year, rising 3.37% last month to reach 35.57% on the year. Event-driven funds also did well, rising 2.46% on the month (11.81% year-to-date). Event-driven multi-strategy funds did especially well, adding 2.61% (12.19% YTD).
Fixed-income arbitrage funds added 2.39% on average in August (18.68% YTD), while distressed funds rose 2.2% (11.11% YTD) and equity market-neutral funds returned 2.18% (5.15% YTD).
Long/short equity funds rose 1.42% last month (13.02% YTD) and global macro funds added 0.94% (6.22% YTD).
Just one strategy was in the red in August: Dedicated short-bias, which continued to be battered by rising markets, falling 1.69%. But that’s much better than the 7.26% decline such funds suffered in July. Still, the strategy is down 18.67% on the year.
Only one other strategy tracked by Credit Suisse is in the red through August: Managed futures, whose 0.79% August return wasn’t nearly enough to bring it out of its 7.1% hole.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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