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Alternative Market Briefing

Global hedge funds recover in April on resurging energy commodities

Wednesday, May 04, 2016

Komfie Manalo, Opalesque Asia:

Global hedge funds recovered in April with the HFRX Global Hedge Fund Index gaining +0.41% last month (-1.47% YTD), while the HFRX Market Directional Index gained +5.31% during the same period (-1.58% YTD) on resurgent energy and commodities.

In its monthly report, Hedge Fund Research said that the global financial markets posted mixed performance in April and added that both the Japanese yen and British pound sterling surged against the US$. Global equities posted mixed results, with gains in Europe offset by weakness in Asia, while gains across large and small cap indices were offset by weakness in technology; reported earnings were also mixed, with weakness in Apple & Twitter offset by strength in Amazon.

"Commodities posted sharp gains for the month, extending March gains, led by surges in oil, natural gas, aluminum, platinum, silver, soybeans and lean hogs. The Japanese Yen continued to strengthen against the US dollar as the Bank of Japan surprised FX markets with no new intervention, while the British Pound Sterling also gained against the US$ as investors re-priced Brexit risk on increased likelihood of 'Brexin vote' in June. US treasury yields rose modestly as the curve flattened and high yield credit tightened," the report added.

Multi-strategy gains led by energ......................

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