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Matthias Knab, Opalesque: Hennessee Group LLC announced today that the Hennessee Hedge Fund Index increased +0.96% for the month (+2.27% YTD), while the S&P 500 was up +2.16% (+1.19% YTD), the Dow Jones Industrial Average increased +1.05% (-1.79% YTD), and the NASDAQ Composite Index gained +5.32% (+7.99% YTD). Bonds were positive for the month, as the Barclays Aggregate Bond Index increased by +0.71%, (-1.50% YTD).
The top three strategies for the month were Financial Equities (+3.51%), Healthcare and Biotech (+3.29%) and Value (+2.42%). While, the bottom three strategies for the month were Distressed (-2.89%), Latin America (-2.78%) and Fixed Income (-1.08%). For the year, Short Biased (+11.57%) leads all strategies while Distressed (-10.99%) brings up the rear.
Equity long/short hedge funds were positive for the month, as the Hennessee Long/Short Equity Index rose +1.78% (+3.79% YTD). The better performing sectors were Information Technology (+7.13%), Industrials (+2.69%) and Energy (+2.53%). While underperforming sectors were Telecommunication Services (-2.28%), Consumer Staples (-1.79%) and Utilities (-1.69%).
The Hennessee Arbitrage/Event Driven Index increased +0.43% for the month (+0.33% YTD). The Barclays Aggregate Bond Index increased +0.71% for the month (-1.50% YTD) as interest rates demonstrated a slight increase for the month. The Merrill Lynch High Yield Master II Index increased +4.91% for the month, and high yield spreads increased 17 basis p...................... To view our full article Click here
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