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Alternative Market Briefing

Emerging markets hedge funds perform strongly, but capital base erodes

Wednesday, May 25, 2016

Komfie Manalo, Opalesque Asia:

Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year, data provider Hedge Fund Research said.

The HFRI EM: Latin America Index leads all areas of hedge fund performance for 2016 with a gain of +15.3%. Hedge funds investing in Russia have also posted strong gains for 2016, with the HFRI EM: Russia/E. Europe Index gaining +12.2% through April, trailing only the LatAm Index as the best area of hedge fund performance YTD. In contrast to the LatAm Index, the historically volatile Russia Index added +5.5% in 2015 and has posted gains in five of the prior seven calendar years.

Kenneth J. Heinz, president of HFR, commented, "Emerging markets hedge fund performance has surged in recent months, led by funds with exposures to Latin America and Russia, driving the strongest monthly performance gains in over a decade, as commodities and regional equities recovered from steep early year losses."

Recent gains for the LatAm Index are encouraging for investors in what has been a challenging regional area of performance in recent years. The Index fell -20.9% in 2015 and has declined in four of the past five calendar years, though the March 2016 gain of +10.0 perc......................

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