Wed, Aug 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Fortress liquid hedge funds down in May, estimated returns for macro fund are -2.46% (-1.80% YTD)

Tuesday, June 07, 2011
Opalesque Industry Update – Few hedge funds are putting up positive estimated returns for May 2011. Exchange traded hedge fund firm Fortress Investment Group today filed their May returns with the SEC revealing the firm’s macro fund (both onshore and offshore) dropped -2.46% during the month and is down -1.80% YTD. The firm’s other liquid hedge funds also delivered negative performance with the Asia Macro Fund down -1.15% (remaining +2% YTD) and the Commodities Fund losing -1.34% (still at +1.24% YTD).

The firm also reported performance on their credit funds for April 2011, which painted a brighter picture. The Drawbridge Special Opportunities Fund was +1/34% (+6.34% YTD), the offshore version of the fund gained +1.44% (+7.33% YTD) and the Fortress Partners Fund gained 0.97% in April (+4.33% YTD) and the offshore version put up +0.82% (+4.07% YTD).

Overall, May was not a good month for hedge funds. Many of the big name funds tracked through the media have delivered negative estimated performance numbers on the month. Other macro managers also struggled with Moore Global giving up approximately 3%, and Caxton Global approximately 2.4%. Macro fund managers have struggled through the stop and start recovery, eyeing quantitative easing and its expected outcomes as well as other government policy risk as a major impediments to their success.

“Macro-fund managers and hedge-fund analysts say that many macro funds weren’t believers in either the U.S. stock rally or the euro’s strength, both of which turned in to missed opportunities, and that at the same time, there was little consensus about where to make profitable trades beyond shorting the U.S. dollar and going long gold,” reports CNBC.

According to research from Bank of America Merrill Lynch, as June opened macro hedge funds were largely focused on buying NASDAQ 100, S&P 500, commodities and 10-year T notes. The bank also says these funds are favoring large caps and added slightly to their US $ shorts.

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  2. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  3. Investors yank money from hedge funds after poor performance[more]

    From Marketwatch.com: A growing exodus from hedge funds extended to two of the biggest names in the industry Tuesday, Tudor Investment Corp. and Brevan Howard, as disenchanted investors increasingly shun what was once the hottest place to put money. The funds’ problem is clear: They just aren’t perf

  4. Banks look at hedge funds differently - and it should matter to allocators[more]

    From Valuewalk.com: Looking at two bank reports on the same topic can often yield interesting results. There are times when bank research is best viewed from the standpoint of how their analysis does or does not correlate with one another. Regarding hedge fund allocation decisions, one bank appears

  5. Legal - Hedge fund’s fixer kept deals flowing with bribes, U.S. says, Big four banks sued by U.S. hedge funds over BBSW, Lessons for hedge fund managers from the government's failed prosecution of alleged insider trading[more]

    Hedge fund’s fixer kept deals flowing with bribes, U.S. says From Bloomberg.com: With the Miami villa, stopovers at New York’s Plaza Hotel and millions channeled in bribes to win mining deals, Samuel Mebiame was the relationships guy in a corruption scheme that spanned continents, accord