All articles by Mathieu Vaissié

  • Features

    Equities excel while bonds underperform

    January 2007 (Magazine)

    October was characterised by the improving performance of the stock markets, as indicated by the above average returns of the S&P 500, while volatility remained at the same level as the previous month, still close to its historical lows. Bond market performance declined again, reaching a low, but still positive, ...

  • Features

    Event driven strategies outperform in August

    October 2006 (Magazine)

    The month of August was characterised by rather strong performance of the stock markets, as indicated by above average returns of the S&P 500, while volatility remained at the same level as last month, still close to its historical lows. After the first positive return of the ongoing year posted ...

  • Features

    Equity based strategies show improved returns

    August 2006 (Magazine)

    The month of June was characterised by flat returns on the stock markets, and volatility, still at a low historical level, remained fairly stable. Although the bond market continued its downward trend, returns were insignificant and volatility continued to be stable. Commodity prices increased significantly from their historical mean, driven ...

  • Features

    Funds' strong start to year

    April 2006 (Magazine)

  • Features

    Funds end 2005 on strong note

    February 2006 (Magazine)

    All strategies except for CTA global exceeded their long-term average performance in December. Convertible arbitrage was the only strategy to end the year with a negative cumulative performance. Interestingly, the average performance of the hedge fund industry, proxied by the performance of the Edhec funds of funds index, was almost ...

  • Features

    Negative times here again

    December 2005 (Magazine)

    Against a backdrop of lacklustre performance in almost all markets (eg, stocks, bonds and commodities), and more generally, of a decline in the risk appetite of investors, all hedge fund strategies performed negatively in October, for the first time since April. Unsurprisingly, the strategies most harshly hit by the fall ...

  • Features

    Long/short strategies best

    November 2005 (Magazine)

    In September 2005, the major hedge fund strategies not only achieved positive returns but also significantly exceeded their long-term performance. Not surprisingly, the long/short equity strategy obtained the best performance in September in the midst of bullish stock markets (eg, +0.69% for the S&P 500), historically low levels of stock ...

  • Features

    Three months positive

    October 2005 (Magazine)

    Despite the poor performance of stock markets (especially the small cap and growth stock segments), hedge funds managed to take advantage of the good performance of bond markets and the rally on the commodity markets to post positive returns for the third month in a row. CTA Global funds achieved ...

  • Features

    Positive mid-year returns

    September 2005 (Magazine)

  • Features

    Traditional markets bullish

    July 2005 (Magazine)

    As can be seen from table 1, all hedge fund strategies except for convertible arbitrage posted positive performance in May. Consequently, three out of five strategies now show positive year-to-date returns, as opposed to two in April. Most traditional markets (for example , stocks, bonds, commodities) were bullish in May, ...

  • Features

    A match made in heaven

    June 2005 (Magazine)

    In the aftermath of the bursting of the internet bubble, pension funds were forced to cope with an extremely unfavourable environment. Stock markets were plunging and interest rates were falling to historically low levels. Pension funds in general, and European pension funds in particular, have therefore seen the gap between ...