Thu, Mar 22, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRU Hedge Fund Composite Index rises +1.43% through mid-May (3.77% YTD)

Friday, May 17, 2013
Opalesque Industry Update - UCITS compliant Hedge Funds posted the strongest gain since HFRU launch, with the HFRU Hedge Fund Composite Index rising +1.43% through mid-May.

• HFRU Equity Hedge Index rose +2.30% through mid-May 2013, the strongest gain since January 2012, with positive contributions from exposures to technology, small cap, Japanese and Turkish equities. Broad-based European and US exposure also contributed to May performance.

HFRU Event Driven Index posted a gain of +1.09% through mid-May, the strongest gain in 15 months, with positive contributions from European and Asian Merger Arbitrage and Special Situations exposures.

HFRU Macro Index gained +0.83% through mid-May, with contributions from Currency focused, Fixed Income, Emerging Markets and Indian equities strategies only partially offset by weakness in Gold, Metals and Commodities.

HFRU Relative Value Arbitrage Index posted a gain of +0.76% through mid-May, with gains from Real Estate and Property exposure and convertible exposure, both global and Japanese, only partially offset by idiosyncratic short credit exposure and long/short Credit Arbitrage strategies.

Global financial markets extended 2013 gains through mid-May, as the Japanese Yen broke 100 $/¥ for the first time since May 2009 and US equities posted record closes in 9 out of 11 trading days through May 15th. Broad-based US equity gains were strong across both growth and value as well as small and large caps, with sector leadership from Technology, Cyclicals and Financials. European equities also posted strong gains as Greek sovereign debt surged, equity gains were led by Germany, Switzerland, Italy & the Netherlands and Greek equities hit highest level since August 2011. Japanese stocks gained nearly 9% through mid-May leading Asian gains and bringing the YTD gain for the Nikkei to over 45%; India, China & the Philippines also posted strong gains. Government bond yields rose across most developed markets, with yields on US Treasuries, German Bunds and UK Gilts all rising; yields increased across Italy, Spain & France as well. Greek bond yields fell to the lowest level in over 3 years on credit rating upgrade, with yields approaching 8%. M&A continued at a brisk pace with transactions in GE/Lufkin Industries, AETNA/Coventry Health Care and Solvay/INEOS, while high yield credit tightened to yield less than 5%. Gold & Silver extended April declines, posting additional losses through mid-May; cattle, lumber, sugar and corn also posted declines. The US$ posted strong gains across the board on expectations for curtailment of stimulus efforts; the Dollar breached a 4 year high against the Japanese Yen, but also rising against the British Pound Sterling, Euro, Swiss Franc and Australian Dollar.

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. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. Institutional Investors - Overdrawn pension fund scores gains[more]

    From Investments in big banks, pawn shops and rolling papers helped boost public safety workers' underfunded pensions this past calendar years, according to newly released figures. After recording middling returns in recent years, the Police & Fire Pension Fund (P&F) notched

  3. Activist Investors - The seven most undervalued stocks in Larry Robbins' portfolio, Stamford hedge fund still seeking shakeup of Taubman board[more]

    The seven most undervalued stocks in Larry Robbins' portfolio From ...On February 14th, Larry Robbins' firm Glenview Capital Management filed its quarterly Form 13F regulatory filing. The firm's stock portfolio totals $18.5 billion with 58 positions according to the latest

  4. Hot hedge fund loses 21% after bet on volatility goes wrong[more]

    From In December, Shahraab Ahmad shared with his hedge fund clients the principle that helped him trounce peers for two turbulent decades: steer clear of the crowd. He'd turned $50 million into an operation with more than $700 million over three years and delivered market-beating retu

  5. Opalesque Exclusive: Northern Trust builds on blockchain-backed private equity solution[more]

    Bailey McCann, Opalesque New York: Private equity clients at Northern Trust can now carry out audits of private equity lifecycle events directly from the blockchain. Northern Trust, working with PwC and other audit firms in Guernsey, has added this feature to its existing solution set for private