Wed, Jun 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index up +0.56% in mid-July (+1.79% YTD)

Wednesday, July 18, 2012
Opalesque Industry Update - Global equity markets posted mixed performance in the first half of July, with intense scrutiny of bank LIBOR submissions and weak US employment figures complementing continued investor concerns regarding European sovereign debt crisis. Global equity markets generally posted declines across US, Europe and Asia, with declines in Japan, Spain and Italy only partially offset by gains in Germany and the U.K.; equities were also mixed by sector, with gains in Energy offset by declines in Technology. Yields on newly issued US Treasury securities continued to set record lows, with 10 and 30 year yields falling below 1.50% and 2.60%, respectively.

The US dollar strengthened against the Euro and Swiss Franc through mid-July, while easing modestly against the Japanese Yen. Commodities generally posted gains as the US drought continued, with strong gains in Corn and Wheat complemented by gains in Oil and Natural Gas. Hedge funds posted gains through mid-July, with the HFRX Global Hedge Fund Index gaining +0.56%, with positive contributions across most main strategy areas. The HFRX Market Directional Index posted a gain of +1.46% with additional contribution from Macro strategies.

The HFRX Macro CTA Index posted a gain of +1.76% though mid-July, with positive contributions from both systematic and discretionary strategies. The HFRX Macro Systematic Diversified CTA Index gained +2.92%, with significant contributions from commodity positions in Energy & Agriculturals (Corn and Wheat), complemented by gains in Currencies. Commodity and currency exposures also had positive contributions to Discretionary Macro managers, with contributions from US and German fixed income as well as long US$/Euro positions.

The HFRX Equity Hedge Index posted a gain of +0.39% though mid-July, with gains concentrated in European L/S, market neutral trading and renewable energy strategies. The HFRX EH: Fundamental Value Index gained +0.67% with contributions from European and US exposure; Energy and Technology also had positive contributions to Index performance. Equity Hedge gains were partially offset by mixed performance in Asian and Emerging Markets exposure. The HFRX Equity Market Neutral Index gained +0.76% as both trading oriented and behavioral, factor-based models had positive contributions.

The HFRX Relative Value Arbitrage Index gained +0.30% through mid-July, with contributions across convertible, corporate and sovereign fixed income and energy infrastructure exposures. The HFRX Convertible Arbitrage Index gained +0.90%, bringing YTD performance to +4.91% as yields declined and credit spreads tightened, with continued contributions from Asian convertible exposure. The HFRX RV Multi-Strategy Index posted a gain of +0.20%, with gains in Emerging Markets sovereign debt partially offset by weakness in hedged commodity exposures; Yield Alternatives Energy Infrastructure also had significant contribution to Index gains.

The HFRX Event Driven Index posted a modest decline of -0.02% through mid-July, from performance of distressed/restructuring, activist and merger arbitrage strategies offset by declines in special situations exposures. The HFRX Distressed Index posted a gain of +0.50%, bringing YTD performance to +3.56%, with contributions from EM and European distressed exposure. The HFRX Merger Arbitrage Index gained +0.02% for the period, with mixed performance across core positions in Glencore/Xstrata, Bristol-Myers/Amylin, Hologic/Gen-Probe and various Energy and Technology positions...Full press release and performance table:Source
km

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. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.