Tue, Sep 26, 2017
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. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  3. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N

  4. Artificial intelligence may replace 40% of all jobs: Bridgewater founder Ray Dalio[more]

    From Foxbusiness.com: Bridgewater Associates founder Ray Dalio said Friday that almost half of the jobs in the next two decades will be replaced by artificial intelligence. "By in large, the world is going to largely consist of people who can take language and put it into code, which then allo

  5. Former management team of Sprott Asset Management launches Ninepoint Partners LP[more]

    Effective today, SPR & Co LP, the company created to assume portfolio management of the Canadian diversified asset business of Sprott Asset Management LP, has been re-named Ninepoint Partners LP. The rebranding completes the transition initiated with the August 1, 2017 management-led buyout of the d