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Alternative Market Briefing

Lyxor reports hedge funds showing continued recovery in February

Monday, March 26, 2012

Beverly Chandler, Opalesque London: The Lyxor Hedge Fund Index has added 0.7% of performance in February, bringing the year to date return to 2%, illustrating what Lyxor calls 'a strong come-back from Hedge Fund strategies in a "risk on" environment’.

Within the index, 11 hedge fund strategies out of 16 posted a positive return in February and nine achieved performance of over 1%, with the top performers coming from the long/short equity sector and event driven strategies. Lyxor says: "Markets remained on a very solid footing in February, extending the already strong January gains. World equities flirted with double digit year-to-date performances. Directional segments thus continued to lead. L/S Equity strategies recorded strong performances with +3.2% for the L/S Equity - Long Bias Index (+6.3% YTD), for instance. Emerging markets, cyclical sectors and small caps posted the best returns amid a sharp decline in volatility".

Lyxor finds that equity-oriented hedge fund managers have generally increased their net exposures year-to-date in order to capture the rally. The Lyxor L/S Equity Long Bias Index gained 3.2% and the Lyxor L/S Equity Variable Bias Index gained 1.3%. The firm says: "The trading environment improved, as even managers with modest directional exposure achieved gains from security selection as markets normalized".

Credit oriented managers also achieved support with high yield spreads tightening signif......................

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