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Hennessee PIPEs/Private Financing Index
The Hennessee PIPES/Private Financing Index includes funds that ivnest in PIPEs (private investments in public entities), which are transactions by which publicly traded companies access new capital through the sale of stock directly to private investors. PIPEs can be transacted with a number of financial instruments, including the issuance of common stock, convertible securities, or warrants. Private financing includes asset based lending/acquisitions and direct loan investing such as mezzanine financing, bridge loans, and debtor in possession financing.
| Summary Statistics (Jan-96 to Dec-12) |
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Annualized Compound Return |
Annualized Standard Deviation |
Sharpe
Ratio |
Sortino
Ratio |
Annualized Alpha
(versus Benchmark) |
Correlation
(versus Benchmark) |
| Hennessee PIPES/Private Financing Index |
8.42% |
7.01% |
1.16 |
2.02 |
N/A |
N/A |
| S&P 500 |
5.04% |
16.05% |
0.37 |
0.41 |
7.11% |
0.54 |
| Barclays Aggregate Bond Index |
6.08% |
3.54% |
1.62 |
3.09 |
11.14% |
-0.19 |
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Number of Months |
% of Months
Positive |
Largest Consecutive Loss |
Value of $1000
(Invested at Inception) |
| Postive |
Negative |
% |
Months |
Peak |
Valley |
| Hennessee PIPES/Private Financing Index |
138 |
65 |
68% |
-20.05% |
26 |
Aug-00 |
Oct-02 |
$3,925 |
| S&P 500 |
123 |
80 |
61% |
-52.56% |
16 |
Oct-07 |
Feb-09 |
$2,299 |
| Barclays Aggregate Bond Index |
142 |
61 |
70% |
-3.82% |
7 |
Mar-08 |
Oct-08 |
$2,715 |
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| Historical Performance (Jan-96 to Dec-12) |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Year |
| 2012 |
4.01% |
2.45% |
1.03% |
0.14% |
-0.17% |
-0.98% |
-0.84% |
1.25% |
0.60% |
-2.50% |
-1.00% |
- |
3.89% |
| 2011 |
-0.25% |
3.16% |
-1.93% |
-0.65% |
-2.39% |
-1.13% |
3.27% |
-2.99% |
-4.93% |
2.03% |
0.93% |
1.82% |
-3.39% |
| 2010 |
-2.00% |
1.21% |
1.29% |
-0.32% |
-1.82% |
-2.34% |
2.13% |
-1.36% |
3.03% |
2.35% |
1.81% |
2.75% |
6.71% |
| 2009 |
0.34% |
-0.98% |
1.46% |
1.81% |
1.75% |
0.81% |
1.28% |
0.10% |
1.53% |
-0.73% |
-0.24% |
2.57% |
10.07% |
| 2008 |
-1.89% |
0.92% |
-0.97% |
0.49% |
0.82% |
-0.79% |
-1.56% |
-0.01% |
-4.49% |
-4.81% |
-5.22% |
-1.98% |
-18.06% |
| 2007 |
1.62% |
1.43% |
0.94% |
1.53% |
1.96% |
0.52% |
-0.05% |
0.06% |
1.16% |
1.45% |
-1.59% |
0.86% |
10.29% |
| 2006 |
4.39% |
0.71% |
2.34% |
0.99% |
-1.54% |
-0.11% |
-0.38% |
0.18% |
0.43% |
1.38% |
1.18% |
0.64% |
10.57% |
| 2005 |
-0.39% |
0.88% |
0.33% |
-2.15% |
1.13% |
2.16% |
2.68% |
0.50% |
1.88% |
-0.70% |
1.47% |
1.01% |
9.05% |
| 2004 |
4.50% |
2.62% |
1.27% |
0.55% |
-0.16% |
-0.24% |
-1.15% |
-0.06% |
1.20% |
0.23% |
3.43% |
2.86% |
15.95% |
| 2003 |
0.76% |
0.83% |
0.67% |
0.38% |
0.60% |
0.44% |
0.30% |
0.79% |
1.21% |
0.50% |
0.80% |
1.40% |
9.03% |
| 2002 |
0.09% |
-0.09% |
-0.43% |
-0.02% |
-0.22% |
-0.72% |
-2.47% |
0.33% |
-2.69% |
-0.24% |
0.33% |
-0.28% |
-6.28% |
| 2001 |
1.11% |
-1.60% |
-1.73% |
-0.89% |
0.07% |
0.58% |
-3.11% |
-0.73% |
-1.30% |
0.90% |
1.81% |
1.12% |
-3.82% |
| 2000 |
6.24% |
5.74% |
3.94% |
-2.12% |
-1.27% |
2.22% |
0.34% |
2.00% |
-1.09% |
-3.56% |
-5.28% |
-1.79% |
4.75% |
| 1999 |
3.95% |
2.02% |
1.98% |
1.93% |
1.74% |
1.73% |
0.98% |
1.59% |
1.47% |
0.13% |
8.73% |
8.96% |
40.89% |
| 1998 |
0.52% |
2.58% |
1.95% |
1.81% |
0.75% |
1.74% |
1.39% |
-0.15% |
-0.03% |
1.96% |
3.24% |
3.92% |
21.46% |
| 1997 |
2.62% |
1.67% |
1.89% |
1.58% |
1.34% |
1.91% |
1.83% |
0.05% |
2.51% |
-2.09% |
1.34% |
0.74% |
16.42% |
| 1996 |
1.76% |
2.14% |
2.76% |
3.15% |
3.09% |
2.14% |
1.26% |
2.04% |
0.90% |
1.48% |
2.07% |
2.57% |
28.49% |
© 2012 Hennessee Group LLC, All Rights Reserved.
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