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Alternative Market Briefing

Lyxor hedge funds gain 4.2% in 2017, still favoring bottom-up strategies in 2018

Wednesday, January 10, 2018

Komfie Manalo, Opalesque Asia:

The Lyxor Hedge Fund Index closed 2017 up 4.2%, with event driven and L/S equity strategies leading the gains with 7.5% and 7.4% increases respectively during the year, Lyxor Asset Management said in its report.

Over the last two weeks, Lyxor hedge funds were up 0.4%, with all strategies on the positive territory. Event driven funds continued their upward trend, up +1.0%. Special situations outperformed, boosted by their core investments in stocks such as Liberty EQT, Tiffany and Zimmer Biomet. M&A specialists thrived from tightening spreads in various deals including Time Warner vs. AT&T, Scripps Networks vs. Discovery and NXP vs. Qualcomm.

The report reads, "CTAs' returns surged thanks to rising commodity prices (they are long energy and metals). Emerging market allocations also positively contributed through long FX vs. USD and long equities. Global macro and L/S equity neutral lagged; the former on the back of long USD vs. DM FX, the latter on continued sector rotations."

Event driven, L/S equity continue their surge in 2018

Event driven and diversified L/S equity funds outperformed during the first week of 2018, Lyxor AM said. The fallout from the US tax reform spread and boosted event positions, as well as L/S equity's cyclical stocks. Macro and neutral equity strategies lagged. The former suffered from the weakness in USD and US rates. The latter remained challe......................

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