Tuesday, February 9, 2010
Lies of Capital Lines
In their paper they examine in detail the qualitative effects caused by the investors' sensitivity to mark-to-market and price of liquidity. They find that by chasing returns and prompting investment managers to deliver unsustainable performance, the investment community damages its own chances through a greedy search for yield.
Download the full article here.
From the February 2010 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, hedge fund performance, hedge funds
December Hedge Fund and CTA Performance
Commodity Trading Advisor performance for December as measured by the Barclay CTA Index averaged -1.50%. January's estimate based on the performance of the Barclay BTOP50 Index is -1.55%.
Hedge Fund Indices Managed Futures Indices
From the February 2010 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, CTA, hedge fund performance
Tuesday, January 12, 2010
November Hedge and CTA Performance
Commodity Trading Advisor performance for November as measured by the Barclay CTA Index averaged +2.28%. December's estimate based on the performance of the Barclay BTOP50 Index is -2.34%.
Hedge Fund Indices Managed Futures Indices
From the January 2010 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, CTA, hedge fund performance
Tuesday, December 8, 2009
October Hedge Fund and CTA Performance
Commodity Trading Advisor performance for October as measured by the Barclay CTA Index averaged -0.97%. November's estimate based on the performance of the Barclay BTOP50 Index is +1.96%.
Hedge Fund Indices Managed Futures Indices
From the December 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Wednesday, November 25, 2009
Emerging Markets Funds Rally; Fair Value or a New Bubble?
From the Fourth Quarter, 2009 issue of Barclay Managed Funds Report. The full report also includes 24 hedge fund and managed futures performance ranking tables and in-depth manager profiles. Subscribe. View Roundtables from back issues.
Oh, what a difference a year can make! This time last year the global markets were on the verge of Armageddon, and investors could not pull their capital out of any risk-based asset class fast enough, let alone one of the riskiest asset classes,
emerging markets.
The aggregate emerging markets were hit particularly hard, with equity losses of more than 50% on $50 billion of fund outflows. It would seem that investors had finally had enough of the frivolous risk taking that has all too often driven many
a market to bubbly proportions. Fast forward nine months, however, and emerging
market equities have advanced more than 60% year-to-date through September, and fund inflows have returned to a breakneck pace. It’s not overly evident where the steam for this recent rally is coming from – whether it’s the few trillion dollars of global stimulus spending, a serious case of investor amnesia, or a sense of urgency to win back the investment losses from 2008.
Perhaps the emerging markets were just simply oversold and may not be susceptible
to the lingering economic downturn and eventual hangover effects of a few trillion dollars’ worth of debt. Whatever the cause, it appears that the emerging markets are set to post spectacular returns for all of 2009, although a keen eye may be critical to determine the inflection point between fair value and a new and improved bubble. To review the opportunities and risks in emerging market investments, we have assembled a panel of experts with hands on experience in the sector. Our panel includes:
Ajay G. Jani, Gramercy LLC
Gavin Joubert, Coronation Fund Managers
Ian McCall, MSc, Argo Group Limited
The complete article will be available on the BarclayHedge.com website in February 2010. Subscribe to receive each issue of the Barclay Managed Funds Report as it comes out.
Labels: Barclay Managed Funds Report, CTA, hedge fund performance, hedge funds
Tuesday, November 10, 2009
September Hedge Fund and CTA Performance
Commodity Trading Advisor performance for September as measured by the Barclay CTA Index averaged +0.97%. October's estimate based on the performance of the Barclay BTOP50 Index is -1.31%.
Hedge Fund Indices Managed Futures Indices
From the November 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, CTA, hedge fund performance
Wednesday, October 7, 2009
August Hedge Fund and CTA Performance
Commodity Trading Advisor performance for August as measured by the Barclay CTA Index averaged +0.43%. September's estimate based on the performance of the Barclay BTOP50 Index is +1.15%
Hedge Fund Indices Managed Futures Indices
From the October 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Friday, September 11, 2009
July Hedge Fund and CTA Performance
Commodity Trading Advisor performance for July as measured by the Barclay CTA Index averaged -0.23%. August's estimate based on the performance of the Barclay BTOP50 Index is +0.21%.
Hedge Fund Indices Managed Futures Indices
From the September 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Tuesday, August 11, 2009
What is the Optimal Number of Managers in a Fund of Hedge Funds?
In their paper they investigate the level and the determinants of the optimal number of hedge fund managers in a fund of hedge funds, and analyze its impact on performance.
Download the full article here.
From the August 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, hedge fund performance, hedge fund research, hedge funds
June Hedge Fund and Commodity Trading Advisor Performance
Commodity Trading Advisor performance for June as measured by the Barclay CTA Index averaged -0.84%. July's estimate based on the performance of the Barclay BTOP50 Index is -0.45%.
Hedge Fund Indices Managed Futures Indices
From the August 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Thursday, July 9, 2009
May Commodity Trading Advisor and Hedge Fund Performance
-1.62%.
Hedge funds had a positive month in May reflected by gains in seventeen of our eighteen indices. The average return for the 2,620 hedge funds (ex. FoFs) that have so far reported a May return is 5.52%. The estimates for June, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 13 of 18 hedge fund sectors are showing positive returns for June.
Hedge Fund Indices Managed Futures Indices
From the July 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Friday, June 12, 2009
April Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had a positive month in April reflected by gaines in sixteen of our eighteen indices. The average return for the 2,524 hedge funds (ex. FoFs) that have so far reported an April return is 4.21%. The estimates for May, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 18 of 18 hedge fund sectors are showing positive returns for May.
Hedge Fund Indices Managed Futures Indices
From the June 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Wednesday, May 13, 2009
Crowded Chickens Farm Fewer Eggs - Capacity Constraints in the Hedge Fund Industry Revisited
Their paper examines how performance is impacted by fund size and inflows.
Download the full article here.
From the May 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, hedge fund performance, hedge fund risk analysis, hedge funds
March Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had a positive month in March reflected by gaines in fifteen of our eighteen indices. The average return for the 2,515 hedge funds (ex. FoFs) that have so far reported a March return is 2.04%. The estimates for April, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 16 of 18 hedge fund sectors are showing positive returns for April.
Hedge Fund Indices Managed Futures Indices
From the May 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Monday, April 13, 2009
February Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had a negative month in February reflected by losses in fourteen of our eighteen indices. The average return for the 2,529 hedge funds (ex. FoFs) that have so far reported a February return is -1.44%. The estimates for March, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 13 of 18 hedge fund sectors are showing positive returns for March.
Hedge Fund Indices Managed Futures Indices
From the April 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Tuesday, March 17, 2009
January Commodity Trading Advisor and Hedge Fund Performance
Commodity Trading Advisor performance for January as measured by the Barclay CTA Index averaged -0.22%. February's estimate based on the performance of the Barclay BTOP50 Index is 0.0%.
Hedge funds had a mixed month in January reflected by gains in thirteen of our eighteen indices. The average return for the 2,417 hedge funds (ex. FoFs) that have so far reported a January return is -0.13%. The estimates for February, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 14 of 18 hedge fund sectors are showing negative returns for February.
Hedge Fund Indices Managed Futures Indices
From the March 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Monday, February 9, 2009
Selectivity and Timing Performance of Funds of Hedge Funds: A Time-Varying Approach
Their paper presents evidence that selectivity and timing performance can be regarded as a good discriminating factor for superior funds of hedge funds.
Download the full article here
From the February 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, FoF, funds of hedge funds, hedge fund performance, hedge fund research
December Commodity Trading Advisor and Hedge Fund Performance
Commodity Trading Advisor performance for December as measured by the Barclay CTA Index averaged +1.24%. January's estimate based on the performance of the Barclay BTOP50 Index is -0.10%.
Hedge funds had a positive month in December reflected by gains in fourteen of our eighteen indices. The average return for the 2,443 hedge funds (ex. FoFs) that have so far reported a December return is +0.50%. The estimates for January, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 14 of 18 hedge fund sectors are showing positive returns for January.
Hedge Fund Indices Managed Futures Indices
From the February 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Friday, January 9, 2009
Recovering Delisting Returns of Hedge Fund
Their paper examines the issue of hedge fund performance estimation when a fund has stopped reporting returns to a commercial database and whether or not a return should be attributed to funds for the period they stop reporting.
Download the full article here
From the January 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, currency funds, funds of hedge funds, hedge fund performance, hedge fund research, hedge fund risk, hedge funds
November Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had another down month in November reflected by losses in sixteen of our eighteen indices. The average return for the 2,494 hedge funds (ex. FoFs) that have so far reported an November return is -2.69%. The estimates for December, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 16 of 18 hedge fund sectors are showing positive returns for December.
Hedge Fund Indices Managed Futures Indices
From the January 2009 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Thursday, December 11, 2008
The Impact of Hedge Fund Family Membership on Performance and Market Share
The paper investigates why hedge funds from small fund families outperform those from large fund families.
Download the full article here
From the December 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, Barclay Insider Report Guest Article, hedge fund performance, hedge funds
Tuesday, December 9, 2008
October Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had another down month in October reflected by losses in fifteen of our eighteen indices. The average return for the 2,653 hedge funds (ex. FoFs) that have so far reported an October return is -8.07%. The estimates for November, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 14 of 18 hedge fund sectors are showing negative returns for November.
Hedge Fund Indices and Managed Futures Indices
From the December 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Friday, November 14, 2008
September Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had another down month in September reflected by losses in seventeen of our eighteen indices. The average return for the 2,823 hedge funds (ex. FoFs) that have so far reported a September return is -6.93%. The estimates for October, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 16 of 18 hedge fund sectors are showing negative returns for October.
Hedge Fund Indices and Managed Futures Indices
From the November 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Tuesday, October 21, 2008
6,700 BarclayHedge Fund Profiles at No Cost
Labels: CTA, FoF, free, funds of hedge funds, hedge fund performance, hedge fund research, hedge funds
Tuesday, October 7, 2008
August Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had another down month in August reflected by losses in fourteen of our eighteen indices. The average return for the 2,938 hedge funds (ex. FoFs) that have so far reported an August return is -1.25%. The estimates for September, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 17 of 18 hedge fund sectors are showing negative returns for September.
Hedge Fund Indices and Managed Futures Indices
From the October 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Tuesday, September 9, 2008
July Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had a down month in June reflected by losses in thirteen of our eighteen indexes. The average return for the 2,968 hedge funds (ex. FoFs) that have so far reported a June return is -1.67%. The estimates for July, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 15 of 18 hedge fund sectors are showing negative returns for July.
Hedge Fund Indices and Managed Futures Indices
From the September 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Thursday, August 7, 2008
June Commodity Trading Advisor and Hedge Fund Performance
Hedge funds had a down month in June reflected by losses in thirteen of our eighteen indexes. The average return for the 2,968 hedge funds (ex. FoFs) that have so far reported a June return is -1.67%. The estimates for July, along with the number of funds reporting for each of our 18 sectors can be found at the link below. These indices are being continually updated as current returns for the underlying hedge funds are recorded into our system. As of this writing, 15 of 18 hedge fund sectors are showing negative returns for July.
Hedge Fund Indices and Managed Futures Indices
From the August 2008 issue of Barclay's Insider Report. Accredited investors can subscribe to the full newsletter for free.
Labels: Barclay Insider Report, commodity trading advisor, hedge fund performance
Tuesday, July 15, 2008
Hedge Funds Outperform Stocks in 2008; Barclay Hedge Fund Index Bests S&P 500 By 9.82%
FAIRFIELD, Iowa, July 15, 2008 – Although hedge funds declined 1.33% in June according to the Barclay Hedge Fund Index compiled by BarclayHedge, they have significantly outperformed stock market returns during the first six months of 2008.
While the Barclay Hedge Fund Index slipped 2.09% from January through June, the S&P 500 Index lost 11.91% and the NASDAQ fell 13.55% over the same period.
“Hedge funds typically outperform equity markets during difficult periods,” says Sol Waksman, founder and president of BarclayHedge.
“For example, during the three-year bear market from 2000 to 2002, the S&P 500 lost 36.70 percent of its value while hedge funds actually gained 21.48 percent.
“People focusing on recent hedge fund declines have lost sight of the bigger picture – these investments actually add more value during down market cycles than in up markets. After all, when the market is going up, there isn’t as much need to be hedged.”
The Barclay Equity Short Bias Index gained a remarkable 11.83% in June. Short sellers are now up 18.76% for the year.
“Thus far in 2008, shorting the equity markets has clearly been the most profitable strategy for hedge fund managers,” says Waksman.
“Whether they can hold on to these gains remains to be seen. Going short is a strategy that can come back and bite you when the markets turn quickly.”
In addition to the strong performance by Equity Short Bias, Equity Market Neutral was up 2.86% in June, and the Healthcare & Biotechnology Index rose 1.91%.
Twelve of Barclay’s 18 hedge fund indices lost ground in June. The Emerging Markets Index dropped 4.15%, Equity Long Bias was down 3.39%, and Pacific Rim Equities lost 2.98%.
After two quarters, the worst performing indices are Emerging Markets, down 9.39%, and Pacific Rim Equities, down 5.86%.
The Barclay Fund of Funds Index lost 0.69% in June, and is down by 2.51% for the year.
Click here to view five years of Barclay Hedge Fund Index data, or download 11 years of monthly data.
Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge (formerly The Barclay Group) was founded in 1985 and actively tracks more than 6,800 hedge funds, funds of hedge funds, and managed futures programs. Barclay has created and regularly updates 18 proprietary hedge fund indexes and eight managed futures indexes. Institutional investors, brokerage firms and private banks worldwide utilize Barclay’s data as performance benchmarks for the hedge fund and managed futures industries.
Labels: BarclayHedge press release, hedge fund performance
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