Wednesday, 27 May 2015
Last updated 1 hour ago
Jan 16 2007 | 2:01pm ET
The Credit Suisse/Tremont Hedge Fund Index was up 1.83% in December, finishing the year with a total return of 13.86%, according to Oliver Schupp, President of the Credit Suisse Tremont Index.
“A stronger than expected year was experienced as a favorable market environment drove the majority of hedge fund strategies to produce positive end of year results,“ he said. “Record highs in global markets and mergers and acquisition activity along with a stronger than expected earnings season, a pause in the continual increasing of interest rates by the Federal Reserve, high energy prices and volatility fluctuations were positive contributors to hedge fund performance for 2006.”
Emerging markets gained the most in 2006, returning 20.49% for the year, while event-driven strategies were also strong, returning 15.73%. Meanwhile, the worst performers in the Credit Suisse Tremont Index was dedicated short bias, which returned -6.61% for the year.
“Global equity markets rallied in December as investors gained confidence that the global economy will continue to grow in 2007 in part from indications that the housing market would stabilize and from the US dollar gaining slightly against the EUR and Yen,“ said Schupp. “Overall, this favorable market environment bolstered performance and the majority of hedge fund sectors ended December on a positive note with the Managed Futures sector as the best performing sector in December, up 4.05% and the Emerging Markets sector as the best performing sector for 2006 up 20.49%.”
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…