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Eurekahedge Hedge Fund Index down 0.24% (est.) in April (+3.60% YTD), funds attracted US$10.4bn

Wednesday, May 16, 2012
Opalesque Industry Update - This month's Eurekahedge Report reports on a somewhat flat month for the industry. Negative returns in April affected most regional hedge funds as market sentiment became more risk-averse leading to declines across global markets. After a short few months of strong growth, attention returned to European debt issues, soft US economic data and slowing Chinese growth.

There were a few positive numbers to be found, however. The Eurekahedge North American Hedge Fund Index finished the month with positive returns of 0.08%, beating the S&P 500. Managers with positive returns banked on upbeat corporate earnings and the end of April saw a surge caused by speculation of further stimulus from the US Federal Reserve.

Emerging market hedge funds were up 0.54% in the month, bucking the trend from other regions and the underlying markets. Similarly, a 0.51% return by the Mizuho-Eurekahedge Asia Pacific Index showed that the larger asset managers in the region were able to manage volatility in the underlying markets. The index has also notched up strong returns by the end of April 2012 with gains of 5.47%.

Our special report this month focuses on Latin American hedge funds; a sector that has experienced tremendous growth in the last decade jumping from US$2.7 billion to US$58.9 billion in AUM. Latin American hedge funds have also started the year strong attracting US$1.2 billion in 1Q 2012 with gains of US$1.9 billion in performance and we look to see where it is headed following its success.

Everyone at Eurekahedge is gearing up for our upcoming Asian Hedge Fund Awards 2012, which will be taking place on the 25th of May at The Stamford Ballroom, Fairmont Hotel, Singapore. The nominees can be found online on our awards website.

Highlights from this month’s report:

• The asset-weighted Mizuho-Eurekahedge Top 100 Index increased 0.28% in April 2012, signaling a better month for larger funds.

• Hedge funds attracted US$10.4 billion during the month of April.

• Assets in North American hedge funds have increased by nearly US$40 billion since the start of the year.

• Relative value and fixed income hedge funds are a bright light in the industry - they have now witnessed five consecutive months of positive returns with gains of 5.91% and 4.56% respectively.

• Launch activity remained strong in 2012 with more than 150 funds launched worldwide as at the end of April 2012.

• Assets in distressed debt hedge funds were back above US$60 billion.

• The Eurekahedge Latin American Hedge Fund Index saw a surge of 6.45% at end-April 2012.



Main Indices

April
2012
1

2012 Returns

2011 Returns

Eurekahedge Hedge Fund Index

-0.24

3.60

-3.79

Eurekahedge Fund of Funds Index

-0.37

2.47

-5.59

Eurekahedge (Long-Only) Absolute Return Fund Index

-0.56

10.40

-14.19

Eurekahedge Islamic Fund Index

-0.24

5.55

-3.48

 

Strategy Indices

April
2012
1

2012 Returns

2011 Returns

Eurekahedge Arbitrage Hedge Fund Index

0.16

3.38

1.09

Eurekahedge CTA/Managed Futures Hedge Fund Index

-0.12

-0.61

-2.36

Eurekahedge Distressed Debt Hedge Fund Index

-0.23

5.45

-2.52

Eurekahedge Event Driven Hedge Fund Index

-0.22

4.65

-4.68

Eurekahedge Fixed Income Hedge Fund Index

0.18

3.94

0.94

Eurekahedge Long/Short Equities Hedge Fund Index

-0.43

5.42

-6.97

Eurekahedge Macro Hedge Fund Index

-0.53

1.36

-1.26

Eurekahedge Multi-Strategy Hedge Fund Index

0.09

4.32

-2.06

Eurekahedge Relative Value Hedge Fund Index

0.46

5.02

-0.11

 

Regional Indices

April
2012
1

2012 Returns

2011 Returns

Eurekahedge North American Hedge Fund Index

0.08

4.62

-0.66

Eurekahedge European Hedge Fund Index

-0.46

4.06

-6.20

Eurekahedge Eastern Europe & Russia Hedge Fund Index

-2.50

5.73

-20.37

Eurekahedge Japan Hedge Fund Index

-1.38

3.25

-1.40

Eurekahedge Emerging Markets Hedge Fund Index

0.01

5.71

-8.04

Eurekahedge Asia ex-Japan Hedge Fund Index

-0.34

5.83

-12.31

Eurekahedge Latin American Hedge Fund Index

0.84

6.12

2.49

 

Global Hedge Fund Indices by Fund Size

April
2012
1

2012 Returns

2011 Returns

Eurekahedge Small Hedge Fund Index (<US$100m)

-0.39

3.59

-4.94

Eurekahedge Medium Hedge Fund Index (US$100m - US$500m)

-0.04

3.66

-1.26

Eurekahedge Large Hedge Fund Index (>US$500m)

0.29

3.65

-0.74

 

Mizuho-Eurekahedge Indices

April
2012
1

2012 Returns

2011 Returns

Mizuho-Eurekahedge Index - USD

-0.02

3.13

-2.07

Mizuho-Eurekahedge TOP100 Index - USD

0.19

2.82

1.87

Mizuho-Eurekahedge TOP300 Index - USD

0.08

2.78

0.04

1 Based on 58.14% of funds which have reported April 2012 returns as at 15 May 2012.

(press release)

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