Sat, Aug 1, 2015
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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Opalesque Roundup: Hedge fund assets rose to 11th consecutive quarterly record level: hedge fund news, week 31[more]

    In the week ending 24 July, 2015, the total global hedge fund industry assets rose to the 11th consecutive quarterly record level in 2Q15 to $2.97tln; Eurekahedge reported that hedge funds raised $93bn in the first six months of 2015; The SS&C GlobeOp Forward Redemption Indicator for July 201

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

 

banner