Fri, Nov 27, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Credit Suisse/Tremont Hedge Fund Index estimates +0.39% performance in December 2009 (62% of funds reporting)

Monday, January 11, 2010
Opalesque Industry Updates - Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +0.39% in December 2009 (based on 62% of assets reporting).

Key highlights for the month;
- Hedge funds finished their best year of the decade with positive performance in December. Top performing sectors included Event Driven, Long/Short Equity, Emerging Markets and Convertible Arbitrage.

- Event Driven managers capitalized on their credit books as high yield and leveraged loan markets spreads tightened. Managers also seized opportunities in select idiosyncratic distressed situations.

- Long/Short Equity and Emerging Markets experienced positive performance in the final month of the year with performance largely propelled by rallies in Japanese and certain European equity markets. Following early gains, many managers took risk off the books as markets slowed down in the second half of the month.

- A correction in gold and other precious metals resulted in losses in the Global Macro and Managed Futures sectors. Many macro managers were also adversely affected by the reversal in the U.S. Dollar. Quantitative funds experienced some of the steepest losses due to high levels of risk while discretionary managers had better performance as many pared back risk towards the end of the year.

Convertible Arbitrage experienced its twelfth consecutive month of gains to end the year as best performer among hedge fund strategies as the U.S. convertible bond market had a record return of 49% in 2009[1]. New issuance was light aside from a $3.5 billion issue from Citibank.

Estimates are based on 62% of assets reporting; final December performance will be published January 15th. For a complete description of the Credit Suisse/Tremont Hedge Fund Index, please see the index rules available at Source

Performance table: Source


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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November