Tue, Apr 28, 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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  4. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

  5. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

 

banner