Tue, Jul 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

GAM's commentary finds that August's light volumes saw asset prices drift down

Thursday, September 05, 2013

Beverly Chandler, Opalesque London:

GAM’s latest hedge funds’ Insight finds that asset prices drifted lower on seasonally light volumes during August. The firm writes that equities and bonds sold off, with the MSCI World index down 2.1% and the Barclays Global Aggregate Bond index down 0.5%, both in US dollar terms. Commodities gained in aggregate, led by energy and precious metals, while wheat and corn declined on the month. Hedge fund performance for August was negative as measured by the HFRX Global Hedge Fund index, which was down 0.8%, bringing year-to-date performance to 3.4%. Performance for each of the four main hedge fund strategy categories was negative between -0.2% and -1.7%, according to HFRX strategy index data.

Anthony Lawler, Portfolio Manager at GAM, said: "Volumes were light as expected during August and investors remained focused on the lingering issue of the timing and magnitude of Fed tapering. Given this focus, markets were volatile as investors assessed new growth-related data and expected central bank reactions to that data. Coming into August, managers were positive on US equities and the US dollar, and negative on China-related emerging markets growth plays. Most of these trades were choppy and did not produce much in August, with even emerging markets weakness being concentrated in a few specific countries rather than a broad sell-off."

Lawler stated that hedge fun......................

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. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  4. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass