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

HFRX Global Hedge Fund Index post gain of 0.50% through mid-October, 4.82% YTD

Thursday, October 17, 2013
Opalesque Industry Update - Hedge funds posted gains through mid-month with the HFRX Global Hedge Fund Index posting a gain of +0.50%, including a gain of +0.39% on October 10th, the largest 1 day gain in almost 2 years, while the HFRX Market Directional Index rose +1.07%.

HFRX Equity Hedge Index posted a gain of +0.97% through mid-October, 2013, with gains across Growth, Value and Market Neutral exposures. HFRX Fundamental Value Index rose +1.01% with gains concentrated in European and US large-cap equity, the Index posted a one day gain of +0.85% on October 10th, the largest one day gain since January 2013. HFRX Fundamental Growth Index gained +0.93%, with contributions from exposure to Emerging Asia and small cap US. HFRX Market Neutral Index gained +0.78% with gains as factor-based & trading oriented model captured powerful mean reverting trends.

HFRX Event Driven Index posted a gain of +0.64% through mid-October, led by gains in Special Situations and Merger Arbitrage strategies. HFRX Special Situations Index gained +0.82% for the month, with specific contributions from core positioning in Ferro, Chemtura, Tribune Co., Time Warner, AMC, Hertz, Dish Network, Elan, Dell, Apple, Verizon and Kabel. HFRX Merger Arbitrage Index posted a gain of +0.46%, with contributions from transactions in American Safety/Fairfax, Akorn/Hi-Tech Pharmacal, FNB/BCSB Bancorp, Verizon/Vodafone, Koch/Molex and Thermo Fisher/Life Technologies. HFRX Distressed Index gained +0.17% for the period with contributions from various restructurings across Communications, Energy and Financial sectors.

HFRX Macro Index posted gain of +0.39% through mid-October, with contributions of Currency, Emerging Markets and Fixed Income strategies. HFRX Emerging Markets Index posted a gain of +0.93% with positive contributions from Emerging Asian and Currency strategies. The HFRX Macro: Systematic Diversified Index was essentially unchanged through mid-month, with mixed contributions from equities, fixed income and commodity exposures.

HFRX Relative Value Arbitrage Index posted a modest decline of -0.01% through mid-October as yields rose as investors reduced holdings of short dated treasury securities on continued market uncertainty related to the raise of the debt ceiling and the government shutdown. HFRX Convertible Arbitrage Index gained +0.38% on high yield credit tightening, while the HFRX Fixed Income Credit Index gained +0.26% through mid-month.

Global equity markets posted gains through mid-October, recovering early-month losses through mid-month as financial markets attempted to discount the impact of US fiscal budget impasse, including both the possibilities for resolution, as well as the consequences of failure to resolve. Gains were steady across US caps and sectors, with leadership from Healthcare, Technology and Oil Services. European equities also posted gains led by Spain, Russia and Italy, while Asian equity gains were led by China, India and the Philippines; Emerging Markets were led by gains across the BRIC economies. US yield posted modest increase as some institutions reduced holdings for short dated treasuries on increased default risk, government bond yields were modestly higher across UK Gilts, France, German Bunds, though yields declined across Italy and Spain; though both were narrowly changed, high yield credit tightened while investment grade spreads widened through mid-month. The US dollar traded in a narrow range through mid-month, essentially unchanged against the Euro & Japanese Yen, gaining against the British Pound Sterling while falling against the Brazilian Real & Australian Dollar. Oil & Natural Gas gained through mid-month while Gold & Platinum declined. Agricultural commodities also traded in a narrow range with trading volumes low as a result of the US government shutdowns limiting the release of many reports, gains in Sugar were offset by declines in Lean Hogs.

Comments reference performance as published through October 14, 2013.

Press release

www.hedgefundresearch.com/hfrx_reg/

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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W