Fri, Jul 31, 2015
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. 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 funds, seeing opportunity, invest in struggling hotels in Puerto Rico[more]

    From NYTimes.com: Puerto Rico’s tourism industry has fallen victim to the island’s struggling economy, hit by one misfortune after another. In March, the San Juan Beach Hotel filed for bankruptcy. This week, the Condado Plaza Hilton was forced to close its casino. But nearly two thousand miles away,

  3. 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.

  4. Bridgewater turns bearish on China[more]

    Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials.

  5. 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

 

banner