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Alternative Market Briefing

Peregrine reports their South African hedge funds started 2013 strongly with positive gains

Wednesday, February 06, 2013

Komfie Manalo, Opalesque Asia: Sandton, South Africa-based global provider of wealth and alternative asset management solutions Peregrine Holdings Ltd., said the all the hedge funds it services started the year very strongly with equity long/short funds posting gains of 4.45% in January (following a good performance of 1.53% in December) while market neutral funds also performed well with gains of 1.34% (versus 0.58% for December).

"January saw global markets experience impressive moves to the upside with major indices moving to within touching distance of their pre-crisis highs. The 'crisis’ felt like a thing of the past. Volatility in stocks, as captured by the VIX index, is at its lowest since early 2007 and close to a historic low. Equity mutual funds and exchange traded funds in the US took in a record net inflow of cash from customers last month, beating a record that has stood since the top of the dotcom boom 13 years ago, according to research company TrimTabs," Warren Chapman of Peregrine said.

According to Chapman, the South African equity markets moved from one high to another boosted by an up-weighing in the popular Vanguard Emerging Market Fund. Volatility, as measured by the TOP40 and SWIX near contracts, traded at almost unprecedented lows, he said.

Another Peregrine executive, Faizel Essop added, "Markets can create their own reality. The sentiment that the crisis is over itself helps to de......................

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