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 +0.87% (est) in February (+1.04% YTD est)

Monday, March 08, 2010
Opalesque Industry Updates - Early estimates indicate the Credit Suisse/Tremont Hedge Fund Index (“Broad Index”) will finish up +0.87% in February (based on 76% of assets reporting).

Key highlights for the month;
Managed Futures posted the best performance among the sectors this month as managers were able to gain from long exposures to short term interest rates and short exposure to declining currencies such as the Sterling. In response to an increase in market reversal situations and weaker overall signals, many trend followers also reduced risk allocation to equities and commodities.

Long/Short Equity funds performed in line with global equity markets in February, finishing up an estimated 1.58% as managers benefited from a favorable fundamental stock picking environment. Profits were driven largely by long exposures to cyclical sectors such as industrials, technology, and consumer discretionary, which outperformed during the month. Despite overall positive returns, many European-focused managers finished the month in negative territory due to increased market turbulence in the EU region.

Global Macro managers produced positive performance finishing up 1.25% in February. The largest sources of profit came from fixed income and foreign exchange positions. Funds capitalized on European sovereign credit stresses by taking short positions on the Euro. Moreover, managers with long front-end and short back-end positions on the yield curve benefited from an overall steepening in the curve which was largely driven by the Greek debt situation and the US Federal Reserve’s decision to maintain low rates.

Event Driven funds finished up an estimated 0.48% though returns were mixed across managers. Multi-strategy managers finished up slightly as losses from market hedges and shorts sometimes outpaced gains from long event equity and credit positions. Long-biased distressed managers experienced small gains on specific situations and credit improvements.



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