Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief.
CTA funds also kept performing last week despite a lower volatility compared to October, Lyxor said and added that gains were generated on short commodity exposure as well as on equity and fixed income, thanks to a long positioning.
Philippe Ferreira, Lyxor AM’s head of research, managed account platform, commented, "Once again, CTAs were the best performing strategy, up 1.5%. During the first three weeks of November, CTAs posted an impressive 6% performance on the back of adequate positioning across asset classes: commodities (short), FX (long USD), fixed income (long) and equities (long). Meanwhile, event-driven is the second best performing strategy, up 1.2%. Performance was mainly driven by the healthcare sector."
The Lyxor Hedge Fund Index continues to recover, up 0.5% last week and almost 1% month to date.
The report added that all CTAs ended the week in the black. Trend followers outperformed pattern recognition strategies. Fixed income was once again the best contributor to performance. Most strategies posted gains thanks to the widely shared long U.S. and European exposures.
Ferreira went on to say, "Equities indices confirmed their upward trend after the large October ...................... To view our full article Click here
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