Fri, Mar 6, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index shows August gain of +0.17% (est), (+0.18% YTD)

Friday, September 03, 2010
Opalesque Industry Update - Global equity market declined in August as investors reduced exposure to risk in response to weakening economic data across both developed and emerging economies. Fixed income yields fell as global bond markets rallied in response to risk aversion and the US dollar declined against strong gains in Japanese yen and Swiss francs. Hedge funds posted a gain for the month, with the HFRX Global Hedge Fund Index gaining +0.17% bringing YTD gains to +0.18%.

Macro strategies had the strongest contribution to performance, with the HFRX Macro Index gaining +1.45%, narrowing the YTD loss to -1.53%. Reversing July losses, systematic trend-following strategies posted a gain of +5.0% with gains in fixed income, short energy exposure and currencies offsetting losses in equities and commodities. Discretionary Macro had a partially offsetting loss as expectations of economic growth were reduced for the month.

Event Driven strategies posted a decline of -0.43%, bringing these to a narrow loss of -0.27% YTD. Equity sensitive special situations had the most negative contribution to performance posting a decline of -0.78%, while Merger Arbitrage posted a modest gain, partially offsetting losses in other ED sub-strategies. Distressed Securities had a narrow loss of -0.09%.

Relative Value continued its strong YTD performance with a gain of +0.70% bringing YTD gains to +3.57%. Falling yields and continued tight credit spreads drove strong performance in both Convertible Arbitrage and across multi-strategies, with these gaining +1.56% and +0.74% respectively for August; +5.14% and +5.83% YTD for each of these.

Equity Hedge had a negative contribution to industry performance, with the HFRX Equity Hedge Index declining -0.41%. Quantitative, factor-based EMN had the most negative impact on EH, with a decline of -3.78% on poor persistence in quantitative models, while Fundamental Value posted a smaller loss of -0.83%, bringing FV to a loss of -0.46% YTD. Fundamental Growth had a partially-offsetting positive contribution, posting a gain of +1.32% for the month.

Corporate website:Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SkyBridge opens office in Palm Beach County[more]

    Where better for a southern location than South Florida? SkyBridge Capital, which is headquartered in New York, has opened an office in Palm Beach Gardens. Palm Beach Gardens is a "Signature City" in northern Palm Beach County, with a population of around 49,000.

  2. Outlook - Philippe Jordan predicts 'alternative beta' to displace hedge funds, Stan Druckenmiller says Europe, Japan stocks will outpace U.S.[more]

    Philippe Jordan predicts 'alternative beta' to displace hedge funds From Investordaily.com.au: The disappointing performance of hedge funds in recent years is a result of "too much money chasing too little alpha", argues Capital Fund Management. Speaking to InvestorDaily, CFM partner Phi

  3. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  4. Outlook - 5 reasons why 2015 is looking like a breakout year for alternative investments, Hedge fund manager Dan Loeb predicts disappointment for funds seeking energy distress[more]

    5 reasons why 2015 is looking like a breakout year for alternative investments From Forbes.com: …After a strong 2014, the public markets have been off to a choppy start in 2015. This year, savvy investors may be looking for alpha elsewhere. For many institutions and high-net-worth indivi

  5. Event-driven strategies lead hedge fund gains in February while CTA rally shows signs of fatigue[more]

    Komfie Manalo, Opalesque Asia: Hedge funds ended February on a good note (+0.8%), confirming the positive momentum witnessed since the start of the year, reported Lyxor Asset Management in its Weekly Briefing. As of the end of February, the Lyxor He