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Alternative Market Briefing

All Lyxor indices in positive territory for October; Lyxor Hedge Fund Index up 1.58% for month, 4.8% ytd

Tuesday, November 12, 2013

Beverly Chandler, Opalesque London:

Lyxor reports that all the Lyxor Strategy Indices ended the month of October in positive territory, led by the CTA Long Term (+4.03%), the L/S Equity Market Neutral (+1.77%) and the L/S Equity Long Bias (+1.63%). The Lyxor Hedge Fund Index posted a positive performance of 1.58% in October (+4.80% YTD).

"Markets remain driven by central banks largesse despite signals of economic recovery. High beta strategies have delivered and hedge fund managers are positioned to benefit from it" says Philippe Ferreira, Head of Research and External Relations at Lyxor AM Managed Account Platform. The firm writes that hedge funds were helped by rising asset prices and delivered solid results. Strategies exposed to equities performed the best. The median exposure to equities of all hedge funds remained at the top of the range at 33%, suggesting that managers remain constructive.

Equity strategies generated strong performance with Lyxor’s L/S Equity Long bias up 1.6% in October (13% YTD). "The managers benefited from the high net exposure to equities (73%). L/S Equity Variable bias managers were up 1.6%; with a net exposure at the end of October at 36%. Sector positioning in US equities increased on financials, communication and materials and decreased on Consumer Staples. In Europe, the biggest increase in net exposure was in Communications while net exposure decreased in Industrials and Consumer Staple......................

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