Sun, May 1, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge funds make strong gains in January

Tuesday, February 19, 2013
Opalesque Industry Update:

In January, stocks gained significant momentum, with the S&P 500 (5.18%) reaching a five-year high in the context of sharply decreasing implied volatility (VIX: 14.3%). High-grade bonds lost some ground (Lehman Global: -0.81%, Lehman US: -0.64%), while risky credit improved slightly (Credit-Spread Index: 0.21%) and convertible bonds benefited from their equity component (2.53%). Commodities rebounded vigorously (4.45%), and the dollar was nearly flat (-0.04%).

The performance of hedge fund strategies exposed to the equity risk factor was the highest in the last eight months of a firmly-established positive trend, and furthermore exhibited a strong alpha component (Long/Short Equity: 3.40%, Equity Market Neutral: 1.60%, Event-Driven: 2.26%). Convertible Arbitrage returned a steady 1.55%, with strong sensitivities to credit and convertible bonds outweighing a slight short exposure to equities. CTA Global (1.86%) posted the second positive, idiosyncratic performance in a row, breaking the pattern of recurring losses established for the past 10 months. The Funds of Funds strategy, finally, reached its highest level since May 2011 thanks to a 2.15% gain, with a magnitude not seen for more than two years.

EDHEC Risk

Press Release

BM

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n