Thu, Feb 22, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index -0.88% in March, 0.40% YTD

Wednesday, April 06, 2011
Opalesque Industry Update - Global financial markets ended a volatile month with mixed equity market performance as the combination of political unrest across the Middle East and reaction to Japanese natural and environmental situations continued to impact investors. The Japanese Yen touched a 15 year high against the US Dollar intra-month, but retraced a portion of the gains by month end; Oil and Silver posted gains for the month, with mixed performance across other commodities. Hedge funds posted declines for the month, with the HFRX Global Hedge Fund Index declining -0.88% with gains in Event Driven and Macro strategies offset by negative contributions from Equity Hedge and Relative Value.

The HFRX Macro Index posted a gain of +0.38% for March, the fourth consecutive month of gains with positive contributions from discretionary strategies only partially offset by losses in systematic trend followers. Exposures to sovereign debt, currencies and commodities contributed to positive performance in Macro Discretionary strategies. The HFRX Systematic Diversified Index posted a decline of -1.59%, with declines in long equity index positions only partially offset by gains in currency, commodity and fixed income positions.

Also posting its fourth consecutive month of gains, the HFRX Event Driven Index posted a gain of +0.18% for the month, with corporate transaction activity continuing to accelerate and transactions involving both NYSE Euronext and T-Mobile highlighting an active month in Event Driven. Gains in European M&A and Equity Special Situations offset weakness in Distressed and Credit Arbitrage for the month. The HFRX Special Situations Index posted a gain of +0.42%; while the HFRX Distressed Securities Index and the HFRX Merger Arbitrage Index declined by -0.37% and -0.09%, respectively.

The HFRX Relative Value Arbitrage Index posted a decline of -0.42% for March with mixed performance across multi-strategy credit and convertible arbitrage strategies as fixed income yields traded in a wide intra-month range but settled with little change. The HFRX Convertible Arbitrage Index posted a narrow gain of +0.01%, while the HFRX RVA: Multi-Strategy Index posted a decline of -0.46%; both of these were impacted by shifts in fixed income yields levels and curve shapes, with implied volatilities also tracing a wide intra-month range. Yield-alternative energy infrastructure exposures also posted declines for the month.

The HFRX Equity Hedge Index posted a decline of -3.13% for the month in a volatile and widely dispersed month for equity markets, with weakness in Energy and Basic Materials only partially offset by gains in Equity Market Neutral. The HFRX Fundamental Value Index and the HFRX Fundamental Growth Index posted losses of -4.48% and -0.54%, respectively, while the HFRX Equity Market Neutral Index posted a gain of +1.55%.

(press release)

www.hedgefundresearch.com

Bg

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. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  2. Opalesque Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  3. Institutional Investors - Hedge funds regain their appeal for a $57 billion asset manager, Private credit strategies in stratosphere[more]

    Hedge funds regain their appeal for a $57 billion asset manager From Bloomberg.com: With volatility back on the radar, one of the Nordic region's biggest asset managers is considering relying a bit more on hedge funds to help oversee his portfolio. Mikko Mursula, the chief investment off

  4. Investing - All aboard for hedge funds as trade tide lifts shipping, Hedge funds pile into Time Warner in bet on merger success[more]

    All aboard for hedge funds as trade tide lifts shipping From Reuters.com: Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Around 90 percent of traded goods by volume are tran

  5. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac