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Alternative Market Briefing

2017 could be the best year for hedge funds since 2013

Tuesday, November 14, 2017

Komfie Manalo, Opalesque Asia:

After having delivered positive returns in October, CTA and macro strategies extended their winning streak early November. Both strategies outperformed, up +1.9% and +1.1% respectively last week, on the back of long equity and energy positions, Lyxor Asset Management said in its Weekly Briefing.

In parallel, Lyxor said that the appreciation of the U.S. dollar was supportive for macro managers, while the fall in sovereign bond yields was rewarding for CTAs.

"All strategies are now in positive territory year to date, said Lyxor AM Senior Strategist Philippe Ferreira. He added, L/S equity and event-driven strategies continue to lead the pack and the gap between CTAs and global macro is narrowing. All in all, hedge funds are on track to potentially deliver their best year since 2013 and provided that performance stays up in November and December, this year could be the best year for hedge funds in almost a decade."

He added that the Lyxor Hedge Fund Index, which is narrower and only composed of liquid alternative funds compared to the HFRI Funds of Funds Composite Index, was up 0.8% in October, (+4.7% YTD).

Sources of hedge fund returns have switched in 2017

Lyxor said that the sources of hedge fund returns, after two disappointing years in 2015 and 2016, are first related with solid equity market performance, no sudden jumps in volatility in asset prices and the......................

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