Sun, Feb 14, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque Futures Intelligence

Index Tracker: Asset flows and various indexes.

Tuesday, May 19, 2009

Index Tracker

Managed futures as a whole continued to lose in April, as the Newedge, Barclay and Credit Suisse /Tremont indexes indicate. To see what's happening at a more granular level, take a look at Australian Fund Monitors' indexes, which cover more than 200 absolute return and hedge funds managed in Australia.

This database breaks out commodity and currency CTAs separately from managed futures. Australian commodity managers were about flat for the month while FX performed strongly.

When it came to new allocations, investors favored managed futures and global macro. According to Barclay Hedge, $31.4 billion left hedge funds in March, the fifth largest outflow on record, bringing first quarter redemptions to $137 billion or 12.6% of industry assets. But CTAs posted their first inflow in seven months, getting $695 million (0.4% of assets). Global macro was the only other sector that had a positive asset inflow.

Other databases point in the same direction, though the exact numbers differ. A report from Credit Suisse /Tremont says that overall assets under management by hedge funds declined to $1.3 trillion as of March 31st. While investors, in particular institutions, are expected to return to hedge funds in time, “Over the short term, we anticipate increased attention will be focused on specific sectors such as global macro, convertible arbitrage and managed futures.”

Here is what Credit Suisse /Tremont says about investors' interest:“Despite finishing the first quarter down 2.9%, funds in the managed futures space, which represented the best performing hedge fund sector last year, continue to build on the interest they generated in 2008. The liquid, trend-following nature of this strategy typically allows managers to react quickly to changing market conditions, which in turn has historically enabled managers to capitalize during periods of increased market volatility.”

April and Year-to-Date Returns, Various Indexes

 AprYTD
Australian Fund Monitors: 
Commodities/CTA0.16%-0.20%
Currency/FX1.68%1.92%
Global Macro0.17%-0.63%
Managed Futures-0.83%1.35%
All Hedge Funds3.09% 4.01%
Newedge CTA Index-1.96-4.0%
Barclay CTA Index - 0.51%- 2.34%
Credit Suisse /Tremont 
Managed Futures-3.24%-6.03%
Hedge Fund Index 1.68%2.55%



 
This article was published in Opalesque Futures Intelligence.
Opalesque Futures Intelligence
Opalesque Futures Intelligence
Opalesque Futures Intelligence
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. Asia - Hedge fund manager Kyle Bass estimates China's foreign reserves below critical level[more]

    From Nasdaq.com: Investor Kyle Bass stepped up his attack on China's currency, arguing in an investor letter distributed Wednesday that the second-largest economy's foreign reserves are "already below a critical level." The comments mark the latest effort by hedge funds and other investors to raise

  2. Investing - Some hedge funds want to make subprime auto loans next big short, 11 hedge funds that are “all in” on the FANG stocks, Hedge funds short London luxury homes, Cynet raises $7 million from U.S. hedge fund[more]

    Some hedge funds want to make subprime auto loans next big short From Bloomberg.com: A group of hedge funds, convinced they have found the next Big Short, are looking to bet against bonds backed by subprime auto loans. Good luck finding a bank willing to do the trade. Money manage

  3. Investing - Hedge funds see selloff in European bank stocks as buying opportunity[more]

    From WSJ.com: The massive selloff in European bank stocks and bonds is overdone and presents a “phenomenal” buying opportunity, according to some of Europe’s top hedge-fund managers. Despite a 28% slump in European bank stocks this year, including a 38% fall in Deutsche Bank AG and a 34% drop in Soc

  4. Legal - Carlyle accused of fraud by ex-employee, Hedge funds win CDS breach of contract suit against Deutsche Bank, Hedge fund asks for OK on $27.5m Goldman CDO deal, SFO examines Barclays hedge fund profits[more]

    Carlyle accused of fraud by ex-employee From AI-CIO.com: A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments. Carlyle Group has been sued by a former portfolio manager for one of its hedge funds, who accused the firm of “knowi

  5. Illiquid assets are all the rage for hedge funds[more]

    From Valuewalk.com: …Institutional investors are increasingly turning to illiquid assets and active management strategies to combat macroeconomic trends, anticipated market volatility and diverging monetary policy, according to a new survey by Blackrock. And this week, Bloomberg has reported that at