U.S. MACRO HEDGE FUNDS ROCKET IN NOVEMBER; Post 10.4% Average Return in Month.NASHVILLE, Tenn.--(BUSINESS WIRE)--Dec. 19, 1996--Aided by sustained growth in overseas markets, U.S. hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" that specialize spe·cial·ize
1. To limit one's profession to a particular specialty or subject area for study, research, or treatment.
2. To adapt to a particular function or environment. in Macro investing recorded a 10.4% average performance gain during November, posting one of the strongest single month gains of the year among all hedge fund investment styles, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. George P. Van, chairman of Van Hedge Fund Advisors (VAN), a leading hedge fund investment advisory firm.
"Macro hedge funds profited, in part, from strong equity markets in the U.S. and abroad, rising U.S. bond prices, and a strengthening dollar," Mr. Van said.
The best performing hedge fund investment styles worldwide during November were U.S. Macro (+10.4%), U.S. Market Timing (+5.9%), Offshore Fund of Funds Fund of Funds
A mutual fund that invests in other mutual funds.
For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. (+4.2%), Offshore Special Situations (+3.3%) and U.S. Value (+3.2%).
The average U.S. hedge fund gained 2.6% in November, while the average Offshore hedge fund gained 2.1%. By comparison, the S&P 500 gained 7.6% in November, while the average U.S. equity mutual fund gained 4.8%.
Year-to-date through November, the average U.S. hedge fund gained 19.1% and the average Offshore hedge fund gained 15.3%, while the S&P 500, the average U.S. equity mutual fund and the average U.S. bond fund gained 25.4%, 17.3% and 5.0%, respectively.
Year-to-date through November, the best performing hedge fund investment styles on average worldwide were U.S. Emerging Markets, up 26.5%, U.S. Special Situations, up 24.5%, and U.S. Market Neutral-Securities Hedging, up 24.4%.
For November and year-to-date through November, respectively, hedge fund returns by investment style were as follows: Aggressive Growth (U.S.: 2.8%/16.3%--Offshore: 1.9%/21.6%); Distressed Securities Distressed Securities
A company that is currently going through hard times and, as a result, the market value of its securities or assets fall substantially in value.
These securities then become attractive to bottom fishers or vultures. (U.S.: 0.9%/19.2%--Offshore: 1.5%/16.3%); Emerging Markets (U.S.: 2.5%/26.5%--Offshore: 3.0%/20.1%); Fund of Funds (U.S.: 3.1%/18.3%--Offshore: 4.2%/16.0%); Income (U.S.: 1.0%/10.5%--Offshore: 1.1%/4.3%); Macro (U.S.: 10.4%/15.9%--Offshore: 1.3%/18.5%); Market Neutral-Arbitrage (U.S.: 1.0/17.7%--Offshore: N/A); Market Neutral-Securities Hedging (U.S.: 0.5%/24.4%--Offshore: N/A); Market Neutral Strategies: (U.S.: N/A; Offshore: -0.6%/13.1%); Market Timing (U.S.: 5.9%/18.1%--Offshore: 2.4%/11.1%); Opportunistic opportunistic /op·por·tu·nis·tic/ (op?er-tldbomacn-is´tik)
1. denoting a microorganism which does not ordinarily cause disease but becomes pathogenic under certain circumstances.
2. (U.S.: 2.6%/19.2%--Offshore: 1.9%/18.6%); Special Situations (U.S.: 3.0%/24.5%--Offshore: 3.3%/18.3%); Short Selling Short Selling
The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. (U.S.: -5.0%/-7.3%--Offshore: -4.4%/-11.8%); Several Strategies (U.S.: 1.4%/14.0%--Offshore: N/A); and, Value (U.S.: 3.2%/21.0%--Offshore: 2.9%/14.7%).
Van Hedge Fund Advisors, Inc. maintains one of the largest databases of hedge funds in the world. VAN's multi-year performance index is based on approximately 2,300 hedge funds (approximately 1,300 in the U.S. and 1,000 Offshore) that manage over $100 billion in assets. VAN obtains assistance from faculty of the Owen Graduate School of Management of Vanderbilt University Vanderbilt University, at Nashville, Tenn.; coeducational; chartered 1872 as Central Univ. of Methodist Episcopal Church, founded and renamed 1873, opened 1875 through a gift from Cornelius Vanderbilt. Until 1914 it operated under the auspices of the Methodist Church. to help ensure the statistical validity of its hedge fund research.
A registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in , Nashville, Tennessee-based Van Hedge Fund Advisors identifies top performing hedge funds for substantial investors both in the U.S. and overseas. -0-
Note to Editors: VAN has available upon request expanded information and tables on all statistics herein. VAN information on hedge funds is based on information received (and not audited or independently verified) from the hedge funds in VAN's databases and may not be representative of all hedge funds. Different statistics may be based on different numbers of funds. Averages are not dollar-weighted. Past results are not necessarily indicative of future performance. The monthly, quarterly and annual indexes are based on returns of funds reporting at periodic cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, dates.
Database Reference: Investments, Hedge, Funds, Finance, Mutual Funds, Futures, Derivatives derivatives
In finance, contracts whose value is derived from another asset, which can include stocks, bonds, currencies, interest rates, commodities, and related indexes. Purchasers of derivatives are essentially wagering on the future performance of that asset. , Stocks, Bonds, Currencies, Commodities, U.S. Hedge Funds, Offshore Hedge Funds, Market Neutral.
CONTACT: Van Hedge Fund Advisors, Inc.
George P. Van, 615/661-4748