Fri, Mar 29, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds gain in October despite cuts in equity exposures

Tuesday, November 29, 2011

From Precy Dumlao, Opalesque Asia:

Hedge funds advanced in October, reversing the two successive underperforming months of August and September. This came despite entering the month with reduced equity exposures, according to the latest data from industry Greenwich Alternative Investments, which manages one of the largest hedge fund databases across the globe. The Greenwich Investable Hedge Fund Index returned positive +0.92% last month and finished the third quarter up +0.70% (-3.36% YTD). The index was down -2.37% in September.

GAI Senior Vice President Clint Binkly said in a statement, "Most hedge funds entered the month with reduced equity exposure but still managed to capture upside moves during the month. In volatile periods most managers will elect to gear down their portfolio risk until they can be clear of market direction. That’s what we believe we saw in October. If market sentiment remains strong and Eurozone headlines becomes more encouraging, we would expect the magnitude of hedge fund returns to more closely resemble market moves."

According to GAI, the rebound in the global equity markets helped propel most hedge fund strategies to perform positively last month.

Over October, the Long-Short Equity Funds Index was the best relative performer, gaining 2.23%, compared to an advance of 10.26% in the MSCI ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1