Sun, Apr 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Eurekahedge Hedge Fund Index has best September on record +3.4% (5.15% YTD)

Tuesday, October 12, 2010
Opalesque Industry Update - Hedge funds were positive for the third consecutive month in September, up 3.45%, and ended Q3 on a high note amid increased risk appetite and positive movements in underlying markets. The Eurekahedge Hedge Fund Index advanced to a healthy 5.15% year-to-date return, after witnessing its best September on record. The MSCI World Index also posted strong gains of 6.75% for the month.

Below are the key highlights for the month:

Hedge funds delivered the second best monthly performance since May 2003, up 3.45% in September.

Larger hedge funds (AuM>US$500 million) outperformed smaller funds, up 6.35% YTD.

All regions and strategies posted positive returns in September, Greater China hedge funds gained 7.02% during the month.

In terms of regional mandates, hedge funds investing in emerging markets advanced strongly in September, with Asia ex-Japan managers delivering the best performance – up 6.03%. The Eurekahedge Emerging Markets Hedge Funds Index gained 4.20% as the MSCI Emerging Markets Index surged 7.49%. Emerging markets have witnessed strong flows of capital over the last few months, leading to rallies in the underlying equity markets. Asia ex-Japan managers took advantage of the hefty gains across the regional indices – the Hang Seng rose 8.87%, the Sensex gained 11.67% while the Kospi, Shanghai Composite and the Thailand SET also registered healthy returns. Eastern European managers also posted excellent profits, gaining 3.90% on average and bringing their year-to-date returns to 7.21%.

Managers investing in developed markets produced positive returns in September, with North American managers leading the way. The Eurekahedge North American Hedge Fund Index advanced 3.67% for the month while European and Japanese managers gained 2.26% and 0.71%, respectively. The month was marked by increases in most asset classes across geographies. Although the US dollar decreased during the month, heightened risk appetite pushed the S&P 500 up 8.8% while bonds also witnessed a rally in the latter half of the month amid speculation of further quantitative easing by the US Federal Reserve.

Hedge funds of all strategic mandates finished the month with healthy gains. Long/short equity funds delivered the best performance, gaining 4.33% on average, as managers were able to capture most of the upside in the rising markets. Global macro funds and CTA/managed futures funds also posted excellent returns of 3.68% and 3.20%, respectively, as positive movements across most asset classes were profitable for managers. Fixed income strategies also traded higher as increased risk appetite helped distressed debt managers register yet another month of excellent results while a month-end rally in bonds resulted in opportunities for arbitrage, relative value and fixed income managers. The Eurekahedge Distressed Debt Hedge Fund Index continued to lead in the year-to-date measure, up 10.31% September year-to-date.

Full performance chart: Source

(press release)

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