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Alternative Market Briefing

Dow Jones Credit Suisse Hedge Fund Index finished April with only 4 out of 10 strategies in positive territory

Thursday, May 24, 2012

Bailey McCann, Opalesque New York: The Dow Jones Credit Suisse Hedge Fund Index finished down 0.04% in April, though it is still showing +4% year to date. A new report from Dow Jones Credit Suisse shows the overall performance of most major strategies. In total, the industry saw estimated outflows of approximately $8.35bn in April, bringing overall assets under management for the industry to approximately $1.75tn. The Managed Futures and Multi-Strategy sectors experienced the largest asset inflows on a percentage basis in April, with inflows of 0.53% and 0.14% from March 2012 levels, respectively.

Long/Short Equity funds finished down in April, ending a three-month positive performance run, as broader equity benchmarks finished in negative territory for the month. Dedicated Short Bias saw the most significant outflows by percentage of assets, followed by Emerging Markets, despite positive performance for the latter sector.

Global Macro generated negative performance as a whole. Funds commonly reduced risk exposures as macroeconomic data continued to show weakness. Convertible bonds returned -0.47% on a global basis, as measured by the Bank of America Merrill Lynch Global Convertibles Index. The largest negative contribution came from European convertibles which were down approximately 1%. On the positive side, Asia ex-Japan was the only re......................

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