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Alternative Market Briefing

SEB Group reports that first quarter hedge fund returns in 2013 were almost in line with whole of 2012

Thursday, June 20, 2013

Beverly Chandler, Opalesque London: SEB Group has reported on hedge funds for the fourth quarter of 2012 and first quarter of 2013. The bank writes: "Almost every strategy continued its strong fourth quarter trend, with the exception of Macro/CTA, which hovered around zero. There is still good potential for every strategy, although the rate of return will probably not be as high for the rest of the year."

For the first quarter of 2013, SEB found that hedge funds had already generated a return in line with full-year 2012. "Since the fourth quarter of 2012, the markets have gradually returned to being governed by company and macroeconomic fundamentals, which has been a good climate for hedge fund managers. Hedge funds as a whole have had a good start to the year, generating 3.1% during the first quarter, compared to a full-year return of 3.5% for 2012" SEB writes.

The bank found variation within and between strategies, writing that equity long/short and event driven strategies have benefited most from more "normalised" market conditions, with gains of over 5% this year. "Meanwhile, Macro/CTA has stayed just above zero, which is lower than we expected, but there is considerable variation among hedge fund managers."

The firm found that there is still a good potential for every strategy, with more sustained trends that should favour CTA (strategies based on mathematical models), while large global imbalances create oppor......................

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