Sun, Nov 19, 2017
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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W