Sun, Feb 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

All hedge fund styles up in October - Man Investments

Wednesday, November 17, 2010
Opalesque Industry Update - Hedge funds secured another positive return in October, with many styles proving profitable as risk appetite remained positive on the expectation of an imminent announcement of further quantitative easing (nicknamed ‘QE2’) by the US Federal Reserve according to Man, one of the world's largest listed hedge fund providers.

Equity markets continued along the same bullish path in October as in September. However, speculation that any monetary easing in the US would be less than anticipated weighed on investor minds, with additional concern from some over an unexpected month-end interest rate rise in China. Nevertheless, the MSCI World Index ended up 2.8% with robust performance from Materials, Energy and Information Technology as the release of better-than expected Q3 earnings buoyed market sentiment.

Anthony Lawler, Head of Portfolio Management at Man’s multi manager business, said: “Hedge funds posted another month of positive returns across all styles in October, with managed futures and global macro in particular continuing to deliver strong performance.”

Other key conclusions from Man Multi-Manager’s monthly hedge fund research:

- Managed futures managers provided standout returns in October, with the imminent prospect of QE2 and strong Q3 corporate earnings allowing many long-term trend followers to capitalise on a continuation of some recent strong market trends. Gains were driven mainly through long exposure to commodities, helped in part by the weakened US dollar.
- Global macro continued its solid run with all sub-styles ended up for the month, with strong themes such as a quantitative easing driven rally in ‘risk’ assets and the weakness in the US dollar continuing on from September. Emerging market managers also outperformed as currency and equity positions benefited from the increase in risk appetite.
- Equity hedged performed well as the continuing equity rally provided a tailwind to returns while exposure to event driven and relative value managers also proved profitable with returns supported by strong underlying credit markets.
Mr. Lawler added: “Looking ahead we believe that there is a rich opportunity set in the investment styles of global macro and managed futures. We see opportunities in emerging markets with managers who use an active trading approach across asset classes rather than those with more consistent directionality. We also view the outlook as positive for fundamental long/short credit managers given the high dispersion present in global credit spreads.”

(press release)

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. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  2. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  3. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  4. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  5. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl