Browsing: hedge fund performance

Posts Tagged ‘ hedge fund performance ’

Hedge Funds: Deep-Diving Into the 2018 Numbers

Apr 18th, 2019 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, The A.I. Industry, Equity Hedge Funds, Indexes, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Structure of the Hedge Funds Industry

Martin McCubbin, a senior research analyst at Fidante, looks at the hedge fund performance numbers for 2018 in a new paper, which shows it was a difficult year. Early going in 2019 has been somewhat better, but that the “better” cannot be relied upon. The rest of this year couldRead More


Eurekahedge: Light at the End of Trade-War Tunnel?

Mar 25th, 2019 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, The A.I. Industry, Equity Hedge Funds, Indexes, Hedge Funds, Event-Driven Hedge Funds

During the Vietnam War era, the metaphor of “light at the end of a tunnel” expressed American optimism under stress, The image was supposed to convey the idea that the US and its local allies could eventually attain a favorable peace in that country if only they persevered—that the lightRead More


Hedge Funds: Observing the Unobserved Performance

Mar 14th, 2019 | Filed under: Newly Added, Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, The A.I. Industry, Alpha & Beta, Benchmarking & Performance Attribution, Hedge Funds, Structure of the Hedge Funds Industry

Two different strands of scholarly research into hedge fund performance produce markedly different conclusions. There is the returns-based approach, which finds that the average hedge fund manager does better than the market portfolio, net of fees. But there is also a holdings-based approach, which looks at the performance of theRead More


Hedge Funds Stronger in January, Thanks to The Fed

Mar 3rd, 2019 | Filed under: Newly Added, Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, CTA, The A.I. Industry, Industry Size & Managers, Equity Hedge Funds, Benchmarking & Performance Attribution, Hedge Funds, Event-Driven Hedge Funds, Funds of Hedge Funds, Macro and Managed Futures Funds, Relative Value Hedge Funds

Risk-on sentiment returned in January, with good news on trade talks and with the Federal Reserve in the United States putting some distance between itself and its 2018 hard-money stance (the Fed started saying in January that it would be “patient” about selling off-balance sheet assets). Globally, hedge funds grewRead More


Eurekahedge: A Rough Time for the European Mandate Funds

Dec 25th, 2018 | Filed under: Newly Added, Hedge Fund Strategies, The A.I. Industry, Equity Hedge Funds, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Relative Value Hedge Funds

European hedge fund managers continue to suffer from the uncertainties of the United Kingdom’s impending exit from the EU. The latest report from Eurekahedge says that European hedge funds have posted losses in eight of the first eleven months of 2018. They haven’t been in the positive numbers since July,Read More


Eurekahedge: Hedge Funds Failing to Perform in 2018

Nov 25th, 2018 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, The A.I. Industry, Equity Hedge Funds, Indexes, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Allocating to A.I.

The newest Eurekahedge report says that hedge funds globally are experiencing their worst year since 2008. They are down -2.15% for 2018 to date and in the first 10 months of 2008 they were down a full 9.55%. Other Year-to-Date Numbers Only a minority (roughly 47%) of hedge fund managersRead More


Hedge Funds in the Slow-down Phase

Oct 9th, 2018 | Filed under: Newly Added, Hedge Fund Strategies, The A.I. Industry, Equity Hedge Funds, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Relative Value Hedge Funds

Fidante Partners, part of the Challenger Limited Group, has issued a white paper on the performance of hedge funds of various strategies in the slowdown and recession phases of a business cycle. The report, written by Joachim Klement, Fidente’s head of investment research, posits that the world is now inRead More


Eurekahedge: Hedge Funds Trailing Behind Last Year’s Performance

Aug 19th, 2018 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, The A.I. Industry, Industry Size & Managers, Equity Hedge Funds, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Relative Value Hedge Funds

According to Eurekahedge, with the July numbers on hedge fund performance now available, 8.5% of hedge fund managers have posted double-digit gains in 2018 to date. Most of that gain is focused on those with a long/short equities mandate. That number is quite low. Eurekahedge contrasts it with the firstRead More


Eurekahedge: 2018 YTD Growth Positive but Unimpressive

Jun 24th, 2018 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, The A.I. Industry, Industry Size & Managers, Equity Hedge Funds, Indexes, Hedge Funds, Event-Driven Hedge Funds, Macro and Managed Futures Funds, Relative Value Hedge Funds

The newest Eurekahedge report says that total hedge fund assets have grown by $26.4 billion in the year to date (through May). The gain is the result of inflow, not of positive performance. Assets flowing in to the industry’s coffers YTD equal $30 billion, and one gets the net growthRead More


News from AIMA: Performance and UK Regs

Feb 27th, 2018 | Filed under: Newly Added, Risk management, Hedge Funds, Risk Metrics and Measurement, Risk Management Strategies & Processes, Risk Management & Operations

New research by the Alternative Investment Management Association (AIMA), in collaboration with Preqin, indicates that hedge funds have produced “more consistent and steadier returns than equities or bonds over both the short term and the long term.” The study employed four scales of time: one year, three, five, and 10Read More


Cautious Numbers Estimates: A Comparative Look

Sep 26th, 2017 | Filed under: Newly Added, Hedge Fund Industry Trends, The A.I. Industry, Industry Size & Managers, Hedge Funds, Structure of the Hedge Funds Industry

On August 29, we at AllAboutAlpha ran a summary of the latest Eurekahedge report, saying that total hedge fund industry assets around the globe were $2.33 trillion, and that this figure was up by $108.6 billion over the first seven months of 2017. We heard soon thereafter from a readerRead More


First Quarter: An Industry Recovers From a Dry Spell

May 18th, 2017 | Filed under: Newly Added, The A.I. Industry, Industry Size & Managers, Hedge Funds, Structure of the Hedge Funds Industry

Preqin’s review of the hedge fund space in the first quarter of 2017 describes the quarter as a time of “return to form” after a dry spell. Two thirds of the investors interviewed by Preqin at the end of 2016 had said that their hedge fund investments had failed toRead More


Natixis asks 500 institutional investors to look into the future

Dec 20th, 2016 | Filed under: Newly Added, The Global Economy & Currencies, High-net-worth investors, Emerging markets, Institutional Asset Management, Allocating to A.I., Finance & Economics

Natixis Global Asset Management has released the results of a survey of 500 institutional investors, asking them their views on prospects for 2017. The surveyed institutions expect that political and economic developments could cause an increase in volatility in the year to come, and active managers have to reset theirRead More


Eurekahedge: Exodus from the Event-Driven Funds YTD  

Oct 23rd, 2016 | Filed under: Newly Added, Equity Hedge Funds, Hedge Funds, Event-Driven Hedge Funds, Commodities, Relative Value Hedge Funds, Allocating to A.I.

The event-driven hedge fund space is the most troubled in a generally troubled time for the industry. According to the new Eurekahedge report, the event-driven strategy “has seen US$14 billion investor redemptions over the past nine months,” and $10.7 billion over just the past six months. The first nine monthsRead More


Tricky Times for Hedge Funds and a Lot of Negative YTD Performances

May 22nd, 2016 | Filed under: Newly Added, Performance, Analytics & Metrics, Hedge Fund Strategies, Equity Hedge Funds, Indexes, Benchmarking & Performance Attribution, Hedge Funds, Fees, Structure of the Hedge Funds Industry

A slim majority of hedge fund managers are in the red year to date, through April, according to the latest report from Eurekahedge. Specifically, 51.4% of managers have negative YTD performance. Over the same period in 2015, the analogous number was only 21.2%. That is a good indication of whatRead More


March Improved, but 2016 Still Rains Red for Hedge Funds

Apr 24th, 2016 | Filed under: Newly Added, Hedge Fund Industry Trends, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Benchmarking & Performance Attribution, Hedge Funds, Allocating to A.I.

The latest report from Eurekahedge indicates that hedge funds worldwide gained in March, though by far less than the underlying markets gained during the same period. Specifically, the Eurekahedge Hedge Fund Index gained 1.33 percent over the month, while the MSCI World Index, representing those underlying markets, gained 5.47 percent.Read More


Eurekahedge: From Latin America to Middle Earth 

Mar 20th, 2016 | Filed under: Newly Added, Performance, Analytics & Metrics, CTA, Hedge Funds, Macro and Managed Futures Funds, Allocating to A.I.

The latest report from Eurekahedge tells us that hedge funds worldwide are down year-to-date through February, -1.27 percent. Dividing the industry by geographic mandates, Latin America is the only region to post YTD gains, +1.9% due to a rally in oil and commodities. Table 1, adapted from the report below,Read More


Eurekahedge: Performance after the ECB Underwhelms

Jan 28th, 2016 | Filed under: Newly Added, Performance, Analytics & Metrics, Equity Hedge Funds, Benchmarking & Performance Attribution, Hedge Funds, Macro and Managed Futures Funds

The latest Eurekahedge report says that regional mandates for the month of December 2015 produced quite mixed results. Asia ex-Japan managers yielded the best results, gains of 1.45%. Their Japanese counterparts produced 0.27%. In annual terms, Asia ex-Japan funds delivered 8.23% in 2015. Such funds saw an annual AUM growthRead More


Blame China; Blame the US Fed, whatever … August Hedge Fund Numbers Stunk

Sep 21st, 2015 | Filed under: The Global Economy & Currencies, Structure of the Hedge Funds Industry

Eurekahedge's latest round-up of hedge fund results by strategy and region makes quantitative what you, dear reader, probably knew: August was bad. The report also includes some discussion of HK/Shanghai arbitrage. Read More


Billion Dollar Claim from Black Swan Fund: Not from Taleb

Sep 7th, 2015 | Filed under: CAPM / Alpha Theory, Performance, Analytics & Metrics

As regular readers of this blog may recall, I have found much to admire in the writings of Nassim Nicholas Taleb. So I am happy that he had decided to put some distance between himself and a recent claim that Universa made $1 billion when bad news from China shook the world's markets in late August. Read More


Eurekahedge: The Markets are Reading the Headlines

Aug 18th, 2015 | Filed under: Commodities, Hedge Fund Strategies, Currencies, CTA, Alpha Strategies, Alpha Seekers

In the three month period that ends with July, Eurekahedge’s Greater China Index (which has 85 constituents) is down 9.39%. That has come about for precisely the reasons that a reader of the pertinent headlines would guess. Read More


The Core Satellite Model: How to Cut Hedge Fund Fees in Half Part II

Jun 25th, 2015 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Alpha Hunters, Alpha Strategies, Alpha Seekers, Fees

Andrew Beer continues his discussion on slashing hedge fund fees without burning yourself or your clients.Read More


If I Can’t Call It a Hedge Fund, What AM I Going to Call It?

May 18th, 2015 | Filed under: Hedge Fund Strategies, Alpha Hunters

Intrepid contributor Doug Friedenberg addresses a burning nomenclatural issue for the investment style formerly known as hedge funds and proposes a solution to save the financial system.Read More


What hath CalPERS Wrought? And Why?

Sep 30th, 2014 | Filed under: Institutional Investing, Fees

Should investors, especially institutional investors, push back (or push back harder than they have so far) against the fee structure preferred by those whom they pay to manage their money? And is the recent announcement from CalPERS such a push? Read More


Looking at the Next Generation of Institutional Investing

Sep 25th, 2014 | Filed under: Hedge Fund Industry Trends, Institutional Investing, Asset allocation

Guest columnist Andrew Beer looks at the changes in institutional investing.Read More


Investing in the Investor

Sep 4th, 2014 | Filed under: Hedge Fund Industry Trends, Retail Investing, Institutional Investing, Alpha Strategies

Guest columnist Diane Harrison looks at what advisors think of hedge funds.Read More


The Delusions a Boom Can Bring and the Perils of Chasing Hedge Fund Winners

Aug 28th, 2014 | Filed under: Portable Alpha & Alpha/Beta Separation, Institutional Investing, Alpha Hunters, Alpha Strategies, Risk management

For an investor allocating slots in its portfolio to hedge funds, the draw of recent outsized performance can be powerful. Thus, the temptation to chase winners. But two members of the Hedge Fund Strategies Group at Commonfund caution against it. Read More


Eurekahedge: Europe-Focused Managers Took Hits in July

Aug 20th, 2014 | Filed under: Performance, Analytics & Metrics, Emerging markets

Banco Espirito Santo, and its CEO Salgado, had emerged from an earlier round of crisis (way back in 2012) with a roseate smell. Their latest smell ... not so good. Read More


Hedge Fund Branding Continues to Drive a Majority Of Asset Flows

Aug 14th, 2014 | Filed under: Hedge Fund Industry Trends

Guest columnist Don Steinbrugge looks at why the same hedge fund firms consistently bring in the assets.Read More


GFIA: June is ‘Listless’ for Many Asia Managers

Aug 10th, 2014 | Filed under: Hedge Fund Strategies, Alpha Strategies, Indexes

For many fund managers working in Southeast Asia, and/or China, June 2014 was “listless,” with numbers that suggest a flat tire. The booms on the ASEAN bourses are concentrated where the fund managers aren’t, in “high beta cyclical sectors.” Read More


How Hedge Funds Need to Adapt Part II

Apr 21st, 2013 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Operations and Risk Management, Hedge Fund Strategies, Institutional Investing

Part II of a new SEI report on hedge funds and adapting to survival.Read More


Casella on Future of Hedge Fund Industry, Part Two

Aug 2nd, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing, Alpha Strategies

Mark Casella, leader of the U.S. alternatives group at PwC, explains that no manager "ever wants to put gates up or to announce a suspension," and talks about how the contract provisions that provide for such powers have been modified of late. This is part of the broader issue of the alignment of interests.Read More


Dear SEC: Comments on the JOBS Act

Jul 19th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Regulation, Real Estate, Private Equity, Regulatory

A veteran of hedge funds and private equity, Jeff Joseph offers some comments to the U.S. Securities and Exchange Commission on the JOBS Act and what this legislation has the potential to mean to the global alternative investment community.Read More


Citi Says: Second Big Wave of Allocations on the Way

Jul 10th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing

In the introduction to their report, the authors quote one of their interviewees, a leader at a European pension fund, who said: “To me, investing is about going back to the basics. Why do I want to be in this asset class? Why do I want this product? Where does it fit in my portfolio?” Much of the report is structured as a discussion of two distinct shifts in the answers that have been given and are being given to those old queries.Read More


Don’t Fear Hedge Funds or Directional Strategies

May 23rd, 2012 | Filed under: Hedge Fund Industry Trends, Institutional Investing, Alpha Strategies

Hedge funds as a class have performed quite well since 1994. As one might expect, distinct hedge fund strategies yield distinct results. Long/short equity strategies (or “equity hedge” strategies as KPMG calls them) have done best. Generally speaking, hedge funds willing to make directional bets have outperformed those that stick to relative-value plays.Read More


What Do Day-One/Early-Stage Investors Want?

Mar 12th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing, Alpha Strategies, Seeding/early-stage

Funds of funds dominate the world of institutional investors in Day 1 or early stage (D1/ES) hedge funds, and they do so for a simple reason. That is their business model. They exist to invest in hedge funds, and their goal is to be fully invested at all times, not to have a lot of money sitting around as cash. Read More


PwC on Public Pension Managers Who ‘Do’ Hedge Funds

Mar 5th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing, Alpha Strategies, Fees

The question in 2012 is not whether hedge funds (and other alternative investment vehicles) can attract pension funds, but how they should go about it. Alternatives managers will benefit most from the heightened interest of pension funds if they address the continuing concerns of their pension fund colleagues. For example, pension fund managers are well aware that investment in exotic and illiquid products is something hedge funds do, and they know that these products can help make a quick exit impossible. Read More


Conviction Versus Clarity—A Difference With a Distinction

Mar 4th, 2012 | Filed under: Hedge Fund Industry Trends

Emerging managers want and need investors and investors reputedly are sitting on cash looking for opportunities. So why aren't the two managing to get together?Read More


Alix Capital: Market Neutral Up, Fixed Income Down

Feb 29th, 2012 | Filed under:

After a survey of recipients of the UCITS Alternative Index, the UAI Industry Survey Q1 2012, Alix Capital reports that majorities expressed satisfaction with the current level of allocation for certain strategies: commodities, emerging markets, forex, and macro global strategies. But there was a lot of interest in increasing allocations to CTAs, equity market neutral, and volatility-based strategies. The strategy that receives the largest negative response (largest intended reduction in portfolio allocation) is fixed income. Read More


The Shifting Hedge Fund Landscape: Operations and Due Diligence

Feb 28th, 2012 | Filed under: Hedge Fund Industry Trends, Institutional Investing, Alpha Strategies

One crucial takeaway from SEI's latest is that "the quality of operations is a major consideration in institutions' screening and evaluation of hedge funds." Eighty percent of respondents agreed with the observation that "operational strength is a hallmark of an institutional-quality hedge fund." One quarter of those say they agree "strongly." Only three percent disagree.Read More


Do Hedge Funds Work?

Jan 26th, 2012 | Filed under: Hedge Fund Industry Trends, Alpha Strategies

"...If all the money that's ever been invested in hedge funds had been put in treasury bills instead, the results would have been twice as good..." This is the astonishing finding of Simon Lack in his book "The Hedge Fund Mirage".Read More


What up with the Hedge Funds of Funds Index last year? Theories abound.

Feb 15th, 2010 | Filed under: Performance, Analytics & Metrics

Academics and researchers who study the hedge fund industry sometimes say that the best way to gauge the average performance of hedge funds is to look at an index of funds of funds (FoFs), not an index of hedge funds themselves.  The funds of funds, the argument goes, contain manyRead More