Wed, Dec 7, 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 up +1.06% (est) in mid-February

Wednesday, February 22, 2012
Opalesque Industry Update - Global Equity markets continued to build on January gains through mid-February, as investors focused on optimism with regard to both the US economy and European sovereign debt crisis. The US Dollar fell slightly against the major currencies, while Energy commodities rose, with strong gains in Oil and other Energy commodities. US yields rose across the curve, with longer dated maturities rising more quickly through mid-month. Also building on January gains, hedge funds posted gains through mid-February, with the HFRX Global Hedge Fund Index gaining +1.06%, with gains across Event Driven, Equity Hedge and Relative Value strategies. The HFRX Market Directional Index, which includes constituents employing higher levels of market exposure, posted a gain of +1.46% for the period.

The HFRX Event Driven Index posted a gain of +1.73% through mid-February, building on strong January performance, with strongest gains concentrated in Special Situations, Activist and Distressed/Restructuring ED strategies. ED performance was supported by improved risk tolerance, continued credit improvement, M&A deal tightening and equity market gains, with the HFRX Special Situations Index posting a gain of +1.91% for the period. The HFRX Distressed Index posted a gain of +1.19% while the HFRX Merger Arbitrage Index gained +0.96% through mid-month.

The HFRX Equity Hedge Index gained +1.49% through mid-February, with positive contributions multiple geographic, market sector and capitalization ranges. Energy, Technology and Emerging Markets contributed to the gain of +2.73% for the HFRX Fundamental Growth Index, while US large cap and Asian exposures contributed to the gain of +0.83% for the HFRX Fundamental Value Index. The HFRX Equity Market Neutral Index posted a decline of -0.36%, with factor based models underperforming behavioral finance-based MN exposure.

The HFRX Relative Value Arbitrage Index posted a gain of +0.85% through mid-February, with gains across Convertible and Multi-Strategy fixed income exposures. Credit tightening and short exposure offset the impact of rising yields, as implied volatility fell; the HFRX RVA Multi-Strategy Index and the HFRX Convertible Arbitrage Index gained +0.90% and +0.89%, respectively.

The HFRX Macro/CTA Index posted a modest decline of -0.02% through mid-February, from positive contribution in discretionary macro strategies offset by declines across systematic, quantitative strategies. Discretionary strategies posted gains concentrated in commodities and fixed income, while currencies detracted from these. The HFRX Systematic Diversified CTA Index posted a decline of -0.71% with gains in Energy offset by weakness in fixed income and currencies...Full performance table: 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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  3. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  4. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  5. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released