Sat, Mar 17, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index gains 1.45% through mid-January

Wednesday, January 23, 2013
Opalesque Industry Update - Global equity markets posted gains to begin 2013 as investors responded to near term settlement of many of the issues surrounding the US fiscal cliff on the final trading day of 2012. Equity gains were broad based across regions, with leadership from the US, UK, Italy, Spain, Switzerland and Argentina, while Energy & Oil Service, Technology & Biotechnology led gains across sectors. US treasury yields rose across all maturities as the 30 year yield rose above 3 percent; Germany, France & UK also saw rising yields, although yields declined across Spain, Japan & Italy. The US dollar gained against the Japanese Yen, Euro & Swiss Franc, while falling against the Euro. Energy & Metals commodities rose led by Oil & Platinum, while gains in Agricultural commodities were led by Coffee, Corn & Cocoa.

The HFRX Global Hedge Fund Index gained +1.45% through mid-January 2013, with positive contributions across all main strategies led by Event Driven. The HFRX Market Directional Index gained +2.20% through the same period.

Continuing its gains from the prior months, the HFRX Event Driven Index posted a gain of +2.20% through mid-Jan. The HFRX ED: Special Situations Index gained +2.64% with robust activity across the Media, Technology and Technology sectors; Special Situations strategies were active in a dynamic situation surrounding Herbalife. The HFRX Merger Arbitrage Index gained +0.39%, as M&A deals continued with announcements of the Dish Network/Clearwire, Avis/Zipcar deals, while European regulators blocked the UPS acquisition of TNT Express. Continued tightening in high yield credit also contributed to gains with the HFRX ED: Distressed Index gaining +0.65%, while Activist strategies also contributed to gains.

The HFRX Equity Hedge Index gained +1.82% through mid-Jan as equity markets gained across most geographies and sectors upon the agreements around the US fiscal cliff. The HFRX Fundamental Value Index and the HFRX Fundamental Growth Index posted a gains of +2.21% and +1.59%, respectively. Factor-based market neutral models declined while fundamental-based managers posted mixed performance, with the HFR Market Neutral Index returning -0.27% for the period.

Also continuing its gains from the past months, the HFRX Relative Value Index gained +1.55% through mid-Jan, with gains across Convertible, Corporate credit and Multi-Strategy FI Arbitrage. The HFRX RV: Multi-Strategy Index gained +1.51%, with positive contributions from US Multi-strategy and Asian credit exposures, partially offset by Commodity spread trading strategies. The HFRX RV: Convertible Arbitrage Index gained +0.82 % with strong contribution from Emerging Markets and US FI exposure, while the HFRX Fixed Income - Credit Index gained +1.16%. Yield alternative strategies posted strong performance with the HFRX MLP Index gaining +4.57% for the period.

The HFRX Macro Index posted a modest gain of +0.03% through mid-Jan, with positive contributions from Currency and Fixed Income Discretionary managers, offset by declines in Systematic CTA strategies, with the HFRX Macro: Systematic Diversified Index declining -0.33% for the period. The HFRX Emerging Markets Index posted a gain of +0.38% from contributions from Asia and Emerging Europe.

Press release


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. Performance - Hedge fund mojo is back with investor hopes at six-year high, These hedge funds produce the most consistently great results[more]

    Hedge fund mojo is back with investor hopes at six-year high From Hedge funds on the heels of a surprisingly strong performance in 2017 are raising hopes for an encore. Investors expect their managers to return 8.5 percent in 2018, according to a Credit Suisse Group AG sur

  2. Investing - Hedge funds amass big bets against world's leading advertisers, Investor Elliott Management buys tiny stake in Wipro[more]

    Hedge funds amass big bets against world's leading advertisers From Hedge funds have amassed bearish bets of more than $3bn against the world's largest advertising companies in an attempt to profit as the industry undergoes ongoing wrenching disruption and slowing growth. Funds i

  3. News Briefs - Investcorp to launch a $100 million PE fund for Omani pension funds[more]

    Bahrain-based investment firm Investcorp will soon launch a $100 million fund dedicated to Oman's Pension Funds as part of its investment plan. 'The Opportunities Fund' will be focused on private equity investments in the U.S. and Europe and will target mid-sized companies across a broad range of se

  4. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  5. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t