Fri, Nov 28, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index gains 0.73% in February, 1.30% YTD

Sunday, March 06, 2011
Opalesque Industry Update - Global equity markets posted broad-based gains for February despite the spreading of civil unrest in the Middle East and North African countries; oil prices rose for the month to over $100 a barrel on concerns about supply disruption. The U.S. Dollar declined against the Euro and British Pound as US initial jobless claims and consumer confidence improved throughout the month, while precious metals also posted gains. Hedge funds posted gains for the month of February, with the HFRX Global Hedge Fund Index gaining +0.73% for the month, with positive contributions across all strategies.

The HFRX Event Driven Index posted a gain of +1.35%; all ED sub-strategies had a positive contribution for the month. Continued strength in credit markets were supportive of new corporate transactions in the energy, basic materials, and technology sectors. Equity special situations had the strongest contribution to index performance, with the HFRX Special Situations Index posting a gain of +1.83%. A combination of new deal announcements and spread tightening contributed to a gain of +0.64% for the HFRX Merger Arbitrage Index.

The HFRX Macro Index posted a gain of +0.93% for February with gains across systematic trend following and discretionary strategies. The HFRX Systematic Diversified Index posted a gain of +0.67% with significant contributions from energy and metals positions only partially offset by weakness in fixed income. Short U.S. Dollar exposure and long commodity also contributed to positive performance for discretionary macro strategies.

The HFRX Relative Value Arbitrage Index posted a gain of +0.60% for February with contributions from all sub-strategy areas including convertible, multi-strategy credit and yield-alternative strategies. The HFRX Convertible Arbitrage Index gained +1.72% as credit tightened and volatility increased for the month, while the HFRX RVA: Multi-Strategy Index posted a gain of +0.58%. Yield-alternative energy infrastructure exposures also posted gains for the month.

The HFRX Equity Hedge Index posted a gain of +0.23% for the month, as gains in the US and other developed market exposures offset inflation concerns and volatility in the Middle East. The HFRX Equity Market Neutral Index posted a gain of +1.60 with contributions from factor-based, momentum and mean reversion strategies. Both the HFRX Fundamental Growth Index and the HFRX Fundamental Value Index posted gains of +1.08% and +0.14%, respectively, with positive contributions from energy, basic materials, metals, technology and financials.

(press release)

HFRX Indices are designed to be representative of the overall composition of the hedge fund industry.

Hedge Fund Research, Inc. ("HFR") utilizes a UCITSIII compliant methodology to construct the HFRX Hedge Fund Indices. The methodology is based on defined and predetermined rules and objective criteria to select and rebalance components to maximize representation of the Hedge Fund Strategy Universe. Construction of each Index employs state-of-the-art quantitative techniques and qualitative analysis. Multi-level screening, cluster analysis, Monte-Carlo simulations and optimization techniques ensure that each Index is a pure representation of its corresponding hedge fund strategy...Full performance table: Source
KM

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. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  4. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed

  5. Legal - Six years after AIG takeover, lawsuit reveals another potential buyer[more]

    From Institutional investor.com: When former Treasury secretary Henry (Hank) Paulson Jr. testified in a suit last month about the U.S. government takeover of American International Group, his words were — mostly — numbingly familiar. Explaining the “punitive” terms set for the September 2008 bailout