Hedge Fund Update: Third Quarter 2016
The third quarter update examines the subject of position crowding and its effects on performance, particularly in periods of market stress and heightened volatility.
The third quarter update examines the subject of position crowding and its effects on performance, particularly in periods of market stress and heightened volatility.
Select hedge funds have provided attractive long-term returns with reduced equity beta and can be integral to pension investment strategies.
This chart book presents representative marketable and hedge fund manager performance for second quarter 2016.
The second quarter update examines investment landscape before and after the Brexit vote, and the effects of particular pockets of volatility.
Select hedge funds have provided attractive long-term returns with reduced equity beta and can be integral to pension investment strategies.
This chart book presents representative marketable and hedge fund manager performance for first quarter 2016.
The first quarter update examines the switch in the performance of value- and growth-oriented managers and reviews the changes over the quarter that contributed to better performance from uncorrelated and systematic macro strategies.
Event-driven strategies have struggled since mid-2014, but the headwinds recently plaguing them could become less forceful in the months ahead.
This chart book presents representative marketable and hedge fund manager performance for fourth quarter 2015. The median US REIT manager again posted the highest median quarterly return, 7.7% for fourth quarter 2015. The lowest median returns for the quarter (-1.4%) were posted by the median High-Yield Bonds manager and the median Credit Opportunities manager.
This quarter’s publication reviews three of the crosscurrents that swept the hedge fund investment landscape in fourth quarter and then delves more deeply into the event-driven space, examining some of the causes of recent poor performance in this area and the prospects going forward.