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Alternative Market Briefing

CTAs, currency and metals strategies lead hedge fund gains in January

Thursday, February 05, 2015

Komfie Manalo, Opalesque Asia:

Metals commodities gained in January led by gold and silver, while agricultural commodities declined, led by wheat and hogs. UCITS compliant hedge funds posted gains for January with the HFRU Hedge Fund Composite Index gaining +2.03%, reported data tracker Hedge Fund Research.

The HFRU Macro Index posted a gain of +2.83% last month, the record monthly performance since the index inception and 9th gain in 10 months, as currencies experienced extreme dislocations and energy commodities fell sharply. The HFRU macro performance was led by CTAs, currency and metals strategies, while discretionary macro strategies also contributed to gains.

"The global financial markets experienced extreme dislocations to begin 2015, including a steep decline in bond yields, extension of steep losses in oil and energy commodities, the inception of quantitative easing by the European Central Bank (ECB) and a sharp rise in the Swiss franc," HFR said in its monthly performance report. It added, "The Swiss Franc posted a sharp rise against the Euro as a result of the Swiss National Bank (SNB) abandonment of the currency cap to the Euro; the Euro also fell sharply as a result of the ECB's initiation of bond purchase stimulus measures, as well as the election victory of an anti-austerity party Syriza in Greece. Global equity markets......................

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