The three major indices have outshone hedge funds during 2013. The DJIA closed 2013 with a gain of 26.5%, the S&P 500 (INDEXSP:.INX) was up 29.6% and the Nasdaq rose 38.2%.
As computed up to November, the HFRI Equity Hedge Index was up a piffling 13%. Bread and butter mutual funds did far better than the fancier bells and whistles hedge funds, says this article. Not only did investors do better by simply buying and holding, they also saved on the huge fees hedge funds usually charge.
HSBC’s 52nd Hedge Weekly report issued by the HSBC Alternative Investment Group provides useful insight into how various hedge funds performed in 2013 by strategy.
Summarized below are the returns achieved in descending order.
This fund run by a SAC Capital alum bought restaurant stocks amid the pandemic
Prentice Capital Management was up 6.6% for the first four months of the year, compared to the S&P 500's 9.3% decline and the Russell 2000's 21.1% decline. The HFRX Equity Hedge Index was down 9.4% for the quarter. Q1 2020 hedge fund letters, conferences and more Gross and net exposures In his first-quarter letter to Read More
|Fund Type||Fund Category||2013 YTD Returns %|
|Equity-Mid-Small Cap||Equity Long/Short||18.28|
|Equity-Real Estate||Equity Long/Short||13.11|
|Equity Diversified||Market Neutral||10.80|
|Credit Long/Short||Credit Long/Short||9.84|
|Event Driven||Fund of Funds||9.49|
|Macro||Fund of Funds||8.31|
|Long/Short||Fund of Funds||7.67|
|Convertible Arbitrage||Convertible Arbitrage||7.45|
|Multi-Strategy||Fund of Funds||6.97|
|Statistical Arbitrage||Market Neutral||5.98|
|Arbitrage||Fund of Funds||4.85|
|Fixed Income Arbitrage||Fixed Income Arbitrage||3.85|
|Trading||Fund of Funds||-11.29|