Mon, Aug 31, 2015
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 +0.75% through mid-December (3.35% YTD)

Friday, December 21, 2012
Opalesque Industry Update - Global financial markets posted gains through mid-December 2012, as reflecting cautious optimism and improved investor sentiment with regard to political and macroeconomic uncertainty of the US fiscal cliff and the European banking and sovereign debt crisis. Equity markets posted gains across most regions, including US, European and Asian, with equities in China, other Emerging Markets and small cap posting the most significant gains. Most sectors also posted positive performance through mid-month, with gains in Financials and Telecom offsetting declines in Energy and Commodity related exposure. US treasury yields rose as the curve shifted upward across most maturities, while Gold posted declines, consistent with most other Metals. The Euro and British Pound gained against the US dollar on positive developments with regard to European bank risk oversight framework, however the Japanese Yen fell against the US dollar following Japanese elections and in expectation of additional BoJ stimulus. Oil and Natural Gas declined through mid-month, however most Agricultural commodities rose, with Cotton and Lumber leading gains.

Hedge funds posted 5th gain in the past 6 months, with the HFRX Global Hedge Fund Index gaining +0.75% through mid-month, while the HFRX Market Directional Index gained +0.63%.

The HFRX Relative Value Arbitrage Index posted a gain of +0.92% through mid-December, with positive contributions from Corporate Credit, Commodity Arbitrage and Convertible strategies. The HFRX RV: Multi-Strategy Index posted a gain of +0.90%, with positive contributions from US credit, commodity spread arbitrage and Emerging Markets exposure. The HFRX Convertible Arbitrage Index posted a gain of +0.18% with gains in Japanese credit and mixed performance from US exposure.

The HFRX Macro CTA Index posted a gain of +0.76% for the period, with gains in systematic strategies, global fixed income, Emerging Markets exposure partially offset by global multi-strategy managers. The HFRX Systematic Diversified CTA Index posted a gain of +1.35%, with medium term trending models and pattern-recognition strategies posting gains, only partially offset by systematic currency managers. Global discretionary macro strategies experienced gains from exposure to Emerging Markets fixed income and currencies, while commodities exposure had mixed performance.

The HFRX Event Driven Index posted a gain of +0.71% through mid-December, with gains across all ED strategies. Activity in the M&A space continued with deal announcements of Sprint/Clearwire and Delta/Virgin Atlantic and approvals of the Glencore/Viterra deal. The HFRX Merger Arbitrage Index posted a gain of +1.10% on contributions from core positions in Glencore/Viterra, Duke Energy/Progress Energy, Health Care REIT/Sunrise Senior Living and Eaton/Cooper Industries. The HFRX Special Situations Index posted a gain of +0.70% as corporate transaction activity and special dividends continued at a robust pace, with positive contributions across both equity and credit sensitive exposures with gains concentrated in the financial, utilities and energy sectors; the HFRX Distressed Index posted a gain of +0.25% for the period.

The HFRX Equity Hedge Index posted a gain of +0.63%, as growth oriented strategies posted gains followed by value and market neutral strategies exposures. Following the strong performance of the prior month, the HFRX Fundamental Growth Index gained +1.31% through mid-month from exposure to Latin American equity, US mid/small cap, communications and technology sectors. The HFRX Fundamental Value Index posted a gain +0.50%, with contributions from US large cap in the consumer and telecom sectors, partially offset by European exposure. The HFRX Market Neutral Index posted a gain of +0.09% for the period.

Press release

www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login_bd

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. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Performance - Hedge funds set to bank millions by short selling during London share slump, The China market chaos has made this hedge fund its most money in 2 years, Odey hedge fund said to surge 9% betting against China, Hedge funds with long-held bearish views on China rack up profits, Hedge funds in U.S. seen curbing damage from August turbulence, Hedge funds collect on their predictions of a fall, How did managed futures do while the Dow was down 1000[more]

    Hedge funds set to bank millions by short selling during London share slump From TheGuardian.com: Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall. The funds making the bets include Lansd

  5. Opalesque Exclusive: John C Head IV leaves alternative investment firm Gallery Capital, David Harrison joins as co-CIO[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: John C Head IV, former president and co-founder of Gallery Capital Management, an alternative inv

 

banner