Thu, Jul 28, 2016
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. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New