Wed, Nov 25, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Credit Suisse/Tremont Hedge Fund Index posts positive performance of 0.17% (est.) in January 2010

Monday, February 08, 2010
Opalesque Industry Updates - Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +0.17% in January (based on 74% of assets reporting).

Key highlights for the month;
- Long/Short Equity funds outperformed major equity markets in January, finishing down an estimated 1.70% as managers’ lower net exposures protected them from the full brunt of the market correction. Many managers would have finished in positive territory were it not for long positions in Technology stocks which, despite good fundamentals, fell in January on fears over the economic recovery. In general, equity markets reacted negatively to news of the Greek budget deficit and the concomitant drop of Greek bond prices as well as the Chinese central bank’s credit tightening over concerns of overheating in their housing market.

- Event Driven managers had a generally positive month as a number of managers took advantage of inefficient pricing in smaller issue securities resulting from specific restructuring events as well as banks in Japan and Europe lightening their books. Credit markets generally performed well and were negatively correlated to equity markets, benefiting a number of credit-oriented managers.

- Global Macro managers experienced mixed performance with a number of fundamentally-driven quant macro models posting positive returns after capitalizing on tactical moves in currencies and bonds. On the other hand, managers with heavy equity exposures typically underperformed.

- Managed Futures posted the worst performance among the sectors as trend followers fell prey to increased pressure in commodities markets. The DJ-UBS Commodities Index finished down 7.28% for the month, crude oil fell over 8%, and gold was down 1.47% partly as a result of the strengthening US dollar.

Full 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. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  2. Chicago-based Achievement A. M. is shutting down hedge fund following losses[more]

    Komfie Manalo, Opalesque Asia for New Managers: Achievement Asset Management, a Chicago-based hedge fund firm, has announced it is closing down its hedge fund operation following losses on energy market bets this ye

  3. Lyxor Hedge Fund Index up 0.1% (+0.4% YTD) as global macro and CTAs outperform[more]

    Komfie Manalo, Opalesque Asia for New Managers: Global macro and CTAs outperformed the hedge fund space and delivered positive returns last week amidst difficult market conditions, with the Lyxor Hedge Fund Index up

  4. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  5. 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