Tue, Aug 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

November was first down month of 2010 for hedge funds, managed futures losses driven by mid month trend reversals - Dow Jones Credit Suisse Hedge Fund Index

Tuesday, December 21, 2010
Opalesque Industry Update - A new Dow Jones Credit Suisse Hedge Fund Index (“the Index”) monthly commentary offers insight into November hedge fund performance. Some key findings from the report include:

November marked the Index’s first negative month of performance since June. Many managers focused on preserving capital in the increasingly volatile market environment by constraining their losses with hedges, curtailing exposures and lowering leverage levels. Five-out-of-ten strategies in the index posted positive performance for the month.

Fixed Income Arbitrage (+0.74%) was the best performing sector in November, and has the best year-to-date performance in the Index at 11.82% as of November 30. The strategy has had only one month of negative performance in 2010 in May, and was positive every month in 2009. Mortgage-focused managers have been among the best performers in the sector in 2010, and continued to find profitable trades in November.

Long/Short Equity was the second best performing sector in the Index, returning 0.46%. Despite the challenging macro issues driving markets, intra-equity index correlations dropped, allowing for greater dispersion at the stock level. As a result, many managers were able to differentiate themselves from the market and stock picking on both the long and short sides was a driver of returns.

In a reversal from their index-leading performance in October, Managed Futures funds finished down -4.11% for November. Losses were generally the result of mid-month trend reversals in currency and fixed income markets which negatively affected many trend-following managers.

(press release)

Full report available: 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. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  2. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  3. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner