Fri, Oct 20, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRU reports declines across the board to mid-June: Composite index down 1.72%, up 0.98% year to date

Wednesday, June 19, 2013
Opalesque Industry Update - HFR's UCITS indices report the HFRU Event Driven Index posted a decline of -1.06% through mid-June, from declines in Asian and Brazilian Special Situations, Merger Arbitrage and Emerging Markets Credit strategies.

HFRU Relative Value Arbitrage Index declined -1.07% through mid-June, with declines in Emerging Markets, Convertible Arbitrage and Real Estate strategies, only partially offset by gains in Asset-Backed exposure and Volatility managers.

HFRU Macro Index posted a decline of -1.83% through mid-June, with declines in Systematic, Global and Emerging Markets strategies, which were partially offset by idiosyncratic commodity exposure.

HFRU Equity Hedge Index declined -2.11% through mid-June, with losses in Emerging Markets concentrated in Brazil, China and Turkey, partially offset by European equity exposure.

Global financial market volatility increased through mid-June, as investors reduced portfolio risk in anticipation of curtailment of stimulus measures by the US Federal Reserve and as a result of continuing secular unrest in Turkey & Syria. Asian, European and Emerging Market equities posted steep declines through mid-June, led by equities in Japan, South Africa, China, Turkey, Italy & Brazil. US equities posted narrow declines, with weakness in Commodity and Technology sensitive sectors partially offset by gains in Cyclical, Energy and Healthcare equities.

Government bond yields rose through mid-June, rising incrementally and trading in a volatile range after the sharp spike in May; TIPS yields rose as investors sold inflation protected bonds in anticipation of stimulus curtailment, driving real yields into positive territory for the first time in 18 months. Yields also rose across Europe, led by increases in Italy, Spain & Greece. Reversing previous month's gains, the US dollar fell sharply against developed market currencies including the Euro, British Pound Sterling, Japanese Yen and Swiss Franc, although the dollar gained against Emerging Market currencies. Energy and Agricultural commodities gained, led by Crude Oil, Cotton & Hogs, while Metals declined led by Copper & Aluminum. UCITS compliant Hedge funds posted declines, with the HFRU Hedge Fund Composite Index declining -1.72% through mid-June.

Press release

bc

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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad