Tue, Sep 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds seek out positive month despite losses in macro, managed futures and commodity funds

Thursday, March 07, 2013

Bailey McCann, Opalesque New York: Hedge funds held overall returns in positive territory this month, however, good performance from equity, credit and volatility strategies was overshadowed by losses from macro, managed futures and commodity funds. According to monthly performance data from eVestment, hedge funds were up +0.28% for the month and are up +6.87% for the year. Macro, managed futures and commodities strategies were down - -0.01%; 1.49%, and -3.01% respectively.

Directional equity is leading the industry early in 2013, with correlation with the S&P near all-time highs. Credit fund returns continued to be led by mortgage funds in February, but the group’s percentage of winners during the month dipped to the lowest level since May 2012, the last month in which credit funds posted an aggregate loss.

Commodity funds followed commodity prices in February and accounted for the worst month of returns since May 2012. Major commodity indices lost 3% over the month reflecting a similar loss from funds themselves. If this trend continues commodities funds may post negative returns year-to-date continuing the track they were on at the end of 2012. Systematic trading strategies have been a drag on hedge fund performance both in 2012 and into 2013, severely underperforming managers with a discretionary approach to position taking.

"The difficulties facing systematic strategies is indicative of markets where current prices are likely being influenced very di......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the study

  2. Legal – GE Capital and Petters-related hedge fund in legal battle, SEC sanctions Donald Brownstein's hedge fund over conflicts of interest[more]

    GE Capital and Petters-related hedge fund in legal battle From Startribune.com: A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters. The bankruptcy trustee for two failed Flo

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius