Hedge funds outpaced indexes in first half of year

The hedge fund industry experienced gains in the first half of the year, according to data released today by Hennessee Group LLC of New York.
JUL 08, 2009
By  Sue Asci
The hedge fund industry experienced gains in the first half of the year, according to data released today by Hennessee Group LLC of New York. The firm's Hennessee Hedge Fund Index posted a gain of 0.64% for the month of June, and 11.74% for the year to date through June 30, the report said. To date, the index has outpaced the Standard & Poor's 500 stock index, which gained 0.02% in June and had a year-to-date return of 1.78%, as well as the Dow Jones Industrial Average, which declined 0.63% in June and has posted a 3.75% decline year to date. The Nasdaq Composite Index gained 3.10% in June with a year-to-date return of 16.36%. Bonds have also risen, with the Barclays Aggregate Bond Index posting a gain of 0.57% for the month, and a 1.90% increase year-to-date, the report found. Still, the industry should not be complacent about the gains, according to Charles Gradante, co-founder of the Hennessee Group. “I think we have reached an inflection point, as momentum seems to have faded,” he said. “We should see a return to stock picking based on fundamentals, which are rather negative. In addition, the technicals are also bad, leading us to believe in a summer correction,” he said in a statement.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave