Fri, Dec 15, 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. Mediobanca acquires majority stakes in Swiss hedge fund[more]

    Komfie Manalo, Opalesque Asia: Listed diversified banking group Mediobanca SpA said it has acquired a majority stake in Geneva-based hedge fund firm RAM Active Investments SA (RAM AI), an active and alternative asset manager offering a range of act

  2. North America - Miami could attract hedge funds if SALT deductions axed[more]

    From Law360.com: For years, inertia has been Nitin Motwani's greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he's sensi

  3. Northleaf Capital Partners closes debut private credit fund on $670M[more]

    Bailey McCann, Opalesque New York: Northleaf Capital Partners has closed its debut private credit fund - Northleaf Private Credit I - on $670 million. The vehicle will invest in private credit transactions in Europe and North America, with a primary focus on lending to private equity-backed compa

  4. ...And Finally - The ongoing gun saga in the U.S.[more]

    From Newsoftheweird.com: As elder members of the First United Methodist Church in Tellico Plains, Tennessee, gathered on Nov. 16 to discuss the recent church shooting in Sutherland Springs, Texas, one of those present asked if anyone had brought a gun to church. One man spoke up and said he c

  5. Opalesque Exclusive: Credit Suisse Asset Management's NEXT Investors leads $6M Series A round for LUX Technology and Services[more]

    Bailey McCann, Opalesque New York: Credit Suisse Asset Management's NEXT Investors has led a $6 million Series A funding round for LUX Technology and Services, a business and technology solutions provider for the alternative assets industry. The investment will be used to fuel growth of Trans