Wed, May 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Lyxor Global Hedge Fund index up 2% in September, 2.8% YTD

Monday, October 18, 2010
Opalesque Industry Update - The Lyxor Global Hedge Fund index, an investable index based on Lyxor’s hedge fund platform which tracks the overall hedge fund universe, was up +2% in September, lifting year to date gains to 2.8%.

Financial markets featured strong trends during the month of September. US equities rallied hard, as did the USD prices of commodities (including precious metals) and foreign currencies such as the euro. Credit market returns were positive but less extreme, with High Yield posting larger gains than Investment Grade. Treasuries were virtually flat on the month.

The Event Driven space provided generally positive returns in September. The Lyxor Special Situations Index gained 4% on the back of equity and credit market gains (with some help from gold); it was the strongest performing Hedge Fund index over the month. Post-reorganization equities, for example, benefited from the positive environment. The Merger Arbitrage Index gained 1.9% as spreads tightened. The Distressed Index was up 0.5%.

The Lyxor L/S Equity Long Bias Index was up 3.9% on the month. Long Bias managers had maintained their exposures during the latter part of the summer and were thus poised to benefit from September’s solid gains in sectors such as basic materials and commodities. The L/S Equity Variable Bias Index was up 1%. Many managers in this space remain defensively positioned despite increasing net exposures over the month of September.

The L/S Equity Market Neutral and Statistical Arbitrage Indexes were both up 0.1%. The Market Neutral Index is the best performing L/S Equity Index year-to-date (+1.6%), reflecting some persistent trends within equities (e.g., Value vs. Growth). Life remains difficult for Statistical Arbitrage managers (the Index is down 2% year-to-date), as correlations among stock returns remain at historically extreme levels and volatility is low.

The Lyxor Long-Term CTA Index continues its run of solid performance, gaining 2.1% (+6.7% on the year). Many of these managers benefited from the persistent equity, commodity, and FX trends. The Short-Term CTA Index was up 0.5%, although the year-to-date performance of 0.4% signals the difficulty some of the managers in this space have experienced. Significant performance dispersion among Short-Term CTAs continues.

The Lyxor Global Macro Index was up 2.5%. Managers with a long commodity bias or short dollar bias readily found traction with these themes.

(press release)

www.lyxorhedgeindices.com


Bg

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. Investing - Third Point's Loeb surfs on as hedge fund washout continues, George Soros has added to his losing bets against the stock market, Hedge funds, VCs and the CIA are throwing money at ex-Bridgewater data scientists' startup, Hedge funds shed retail amid fears of "apocalypse"[more]

    Third Point's Loeb surfs on as hedge fund washout continues From Reuters/Nasdaq.com: Billionaire investor Daniel Loeb said on Thursday that he is still making money even as the hedge fund industry struggles. Loeb, who oversees the $16 billion hedge fund firm Third Point LLC, sa

  2. Investing - Tudor Jones backs AI hedge funds, Massive hedge fund trades highlight insider buying: GE, Pentair, Tempur Sealy, Apollo Global and more, Hedge funds big wigs are buying consumer and selling tech, here's the stocks[more]

    Tudor Jones backs AI hedge funds From FT.com: Hedge fund magnate Paul Tudor Jones has invested in a brace of artificial-intelligence powered "quantitative" hedge funds, underscoring the increasing acceptance that the industry will need to turn more to technology and away from traditional

  3. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  4. J.P. Morgan Asset Management launches ultra-short income ETF[more]

    Komfie Manalo, Opalesque Asia: J.P. Morgan Asset Management, the $1.5tln investment management arm of JPMorgan Chase & Co., has launched the JPMorgan Ultra-Short Income ETF (JPST), an actively managed ETF that seeks to provide current incom

  5. News Briefs - A former hedge fund manager is running a free masters program in financial engineering, Trinity Fund Administration Ltd joining the Mainstream BPO Group, Chelsea Clinton's husband joins Silicon Valley's Social Capital, The quants run Wall Street now[more]

    A former hedge fund manager is running a free masters program in financial engineering A former hedge funder is offering a free masters degree in a field that's integral to Wall Street's future. Igor Tulchinsky, a former managing director at Millennium Partners, a New York-based hedge fu