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Greenwich Composite Investable Index gained 1.88% in December (3.20% YTD), managed futures hedge funds lead the way

Wednesday, January 26, 2011
Opalesque Industry Update - The Greenwich Composite Investable Index gained 1.88% in December to close 2010 with one of its best months of the year. Equity markets sustained a global rally in December driven by positive economic reports and strong seasonal trends. All of the Greenwich Investable Indices moved higher on the month, with Futures and Long-Short Equity strategies exhibiting the best results. Laggards on the month were more market neutral strategies, such as Arbitrage and Equity Market Neutral funds, as each respective Investable Index gained 0.52% and 0.88%. For the year, the Arbitrage, Futures, and Event-Driven Investable Indices produced the best results, with returns of 10.77%, 8.56% and 8.46%, respectively.

“Hedge fund managers let their net exposures run higher in December in order to capture the seasonal moves that are expected late in the year. As a whole, most investors should be satisfied with hedge fund performance in 2010 as most strategies met or exceeded their benchmark performance with less volatility than other asset classes,” noted Clint Binkley, Senior Vice President. “Looking into 2011, the concerns many investors have about growth in China and austerity measures in Europe should draw fresh capital to the hedge fund space. Investors still seek the downside protection that this alternative asset class provides.”

(press release)


For more in-depth commentary on hedge fund strategies in December, see the Greenwich Hedge Fund Strategy and Market Review. It is also available at www.greenwichai.com

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