Wed, Sep 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

2013 the best year for hedge fund performance in the last three - eVestment

Thursday, January 09, 2014

Bailey McCann, Opalesque New York:

The consistent narrative of hedge fund reporting over 2013 focused on how hedge fund performance was lagging the broad index. While true, new data from eVestment looking at aggregate performance for 2013 shows that the year was the best so far in the last three. Returns were driven all year long by equity strategies which ended the year with returns more than 2x higher than credit strategies and nearly 3x greater than funds with exposure across diversified markets.

Hedge funds rose an average of 1.2% in December and ended 2013 returning 9.2%, surpassing returns from 2012 and 2011 (7.4% and -3.1%, respectively) and just shy of 2010’s 10.5% gain.

In terms of individual strategies, activist strategies were the leading sub-strategy for the year followed closely by long/short equity and distressed funds. Activists returned 19.1% for the year and besting 2012’s 15.2% gain. The group still underperformed the S&P500 for the year. Long/short equity ended the year up 16.12%, over 2012's 9.20% gain. Distressed funds were up 14.03%.

Credit strategies were positive, but posted their 3rd worst year since 1998, primarily due to directional strategies underperforming in the second half of the year. Securitized credit strategies however continued to produce double-digit returns. Credit strategies posted 6.26% for the year lagging behind 2012's gain of 11.40%.

......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style