Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

Barclay Hedge Fund Index Slides 0.24% in April (+1.14% YTD)

Wednesday, May 21, 2014
Opalesque Industry Update - Hedge funds lost 0.24% in April, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 1.14% in 2014.

“Intra-month volatility in global equity markets proved troublesome for equity long/short funds as the MSCI World Index dropped three percent in the first half of the month, yet managed to end the month with a one percent gain,” says Sol Waksman, founder and president of BarclayHedge.

Twelve of Barclay’s 18 hedge fund indices lost ground in April. The Technology Index dropped 3.68%, Healthcare & Biotechnology fell 3.64%, European Equities lost 1.40%, Equity Long Bias was down 0.97%, and Equity Long/Short lost 0.84%.

“Healthcare and Technology were hit particularly hard as investors continued to rotate holdings out of growth and momentum sectors into defensive sectors,” says Waksman.

Six hedge fund strategies made gains in April. Fixed Income Arbitrage was up 0.73%, Equity Short Bias gained 0.53%, the Event Driven Index added 0.61%, and Convertible Arbitrage gained 0.52%.

“US interest rates continued to decline even as the Fed further reduced its monthly asset purchases,” says Waksman.

“As investors have continued to search for yield, the interest rate spread of high yield debt over US Treasuries has narrowed to near pre-crisis levels.”

The Barclay Fund of Funds Index lost 0.79% in April, and is down 0.13% year to date.

The Healthcare & Biotechnology Index is up 5.82% in 2014, Distressed Securities have gained 4.46%, the Event Driven Index is up 3.51%, Fixed Income Arbitrage has added 3.11%, and Convertible Arbitrage is up 2.74%.

The Technology Index has lost 4.16% in 2014, Equity Short Bias Index is down 4.28%, and Pacific Rim Equities have lost 2.69%.

Press Release

BarclayHedge

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1