Hedge funds lag market indicators

The Hennessee Hedge Fund Index declined 1.9% last month and is off 3.5% year-to-date through March 31.
APR 07, 2008
The Hennessee Hedge Fund Index declined 1.9% last month and is off 3.5% year-to-date through March 31, falling short of major market indicators. For the month of March, the Standard & Poor's 500 stock index fell 0.6%, the Dow Jones Industrial Average was unchanged and the Nasdaq Composite Index advanced 0.3%, according to New York-based Hennessee Group LLC. For the first quarter of the year, the S&P 500 was off 9.9%, the Dow was down 7.6% and the Nasdaq was down 14.1%. The Lehman Aggregate Bond Index, meanwhile, rose 0.3% in March and had gained 2.2% for the year-to-date period. Although some hedge funds made good bets on the profitable energy and minerals sectors, most hedge funds lost money in all sectors in March, said Charles E. Gradante, a principal at Hennessee.

Latest News

Merrill lands four advisor teams as May recruiting data shows firm's two-way churn
Merrill lands four advisor teams as May recruiting data shows firm's two-way churn

Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.

Fund manager sues Kandeo, alleges $100 million FinSocial loss
Fund manager sues Kandeo, alleges $100 million FinSocial loss

The $36 million buy allegedly hid inflated books and a $50 million diversion.

Advisor gets $200,000 from Ameriprise in 'emotional distress' lawsuit
Advisor gets $200,000 from Ameriprise in 'emotional distress' lawsuit

“An award citing emotional distress is very unusual,” an industry executive said.

Workplace financial education linked to stronger financial habits, but participation remains low
Workplace financial education linked to stronger financial habits, but participation remains low

New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.

The rise of the super advisor: How AI is redefining competitive advantage in wealth management
The rise of the super advisor: How AI is redefining competitive advantage in wealth management

Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income