Opalesque Industry Update - Global financial markets experienced mixed performance through mid-November, including several large M&A announcements, continued declines in Oil on weak demand, and a favorable response to interest rate cut by Chinese Central Bank. Global equity markets were also mixed with sector gains in Telecom and Cyclicals offset by Energy & Emerging Markets. European & Asian equities posted gains led by Japan, Germany and the UK. Global Yields were little changed following the prior month's volatility, while the US Dollar extended gains from prior month against the Japanese Yen, British Pound Sterling, Euro and Russian Rouble. Commodity declines were led by Oil & Cotton, which were only partially offset by gain in Natural Gas & Gold. UCITS compliant Hedge funds posted gains through mid-November with the HFRU Hedge Fund Composite Index posting a gain of +0.62%. HFRU Macro Index posted a gain of +1.13% through mid-November, 2014, the 7th gain in last 8 months, as Oil and the Japanese Yen extended declines from the prior month. Positive contributions from Systematic trend-following managers and Commodity strategies were partially offset by Volatility strategies. HFRU Event Driven Index posted a gain of +0.82% through mid-November, as event equities recovered from October losses and several large M&A transactions were announced. The Index has positive contributions from global special situations equity and Merger Arbitrage strategies. HFRU Relative Value Arbitrage Index posted a gain of +0.41% through mid-November, with contributions from global multi-strategy and convertible strategies partially offset by Volatility and Emerging Markets exposure. HFRU Equity Hedge Index posted a gain of +0.39% through mid-November, with contributions from exposure to US & European large caps, as well as Turkey & Japan partially offset by exposure to Russia. Comments reflect performance figures as of November 21, 2014. Press release Bg |
Industry Updates
HFRU Hedge Fund Composite Index post gain of +0.62% through mid-November (4.44% YTD)
Wednesday, November 26, 2014
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