Tue, May 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 gains 1.18% so far in January

Monday, January 23, 2012
Opalesque Industry Update - Global equity markets began the New Year with strong gains, with strength across Technology, Energy and Financials sectors. The US Dollar rose against the Euro as several European sovereign credit ratings were downgraded. Commodities began the year with mixed performance with gains in Metals & Oil offset by Agricultural and Natural Gas declines.

Hedge funds posted strong gains to begin the year, with the HFRX Global Hedge Fund Index gaining +1.18%, with gains across all main hedge fund strategies. The HFRX Market Directional Index, which includes constituents employing higher levels of market exposure, posted a gain of +1.35% to begin the year.

The HFRX Event Driven Index posted a gain of +2.02% through mid-January, the second largest gain since September '10, with strongest gains concentrated in Activist and Special Situations exposures. Developments in bankruptcies including American Airlines and MF Global contributed to gains, with the HFRX Distressed Index posting a gain of +1.76%. Positive equity and credit market developments also contributed to gains with the HFRX Special Situations Index posting a gain of +1.74% for the period. The HFRX Merger Arbitrage Index gained +0.46%, as managers were positioned for developments in the NYSE/Deutsche Boerse and the AT&T/T-Mobile transactions.

The HFRX Equity Hedge Index gained +1.30% through mid-January, from positive contributions concentrated in US large cap, Financials and Energy exposures. The HFRX Fundamental Value Index gained +0.74% with contribution from European exposure, while the HFRX Fundamental Growth Index posted a gain of +0.56% with contributions from small cap and Latin American exposures. The HFRX Equity Market Neutral Index posted a gain of +0.82%, with contribution from Technology exposure.

The HFRX Relative Value Arbitrage Index posted a gain of +0.98% through mid-January, with gains across all Relative Value strategies. Yields remained low as credit tightened through mid-month, with gains across multi-strategy, corporate and convertible exposures. The HFRX Convertible Arbitrage Index and the HFRX RVA Multi-Strategy Index gained +0.99% and +0.78%, respectively.

The HFRX Macro/CTA Index gained +0.32% through mid-January, from positive contribution discretionary fixed-income exposures offset by mixed performance in commodity, currency and systematic strategies. Partially offsetting these gains, the HFRX Systematic Diversified CTA Index posted a decline of -0.32% with gains in Metals offset by weakness in Agriculturals and Natural Gas.

Comments reference performance as published through January 18, 2012.

Full performance table on Hedge Fund Research: Source

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. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven