Opalesque Industry Update - After a negative second quarter in 2012 the UCITS HFS Index reported gains for the third consecutive month in September. This positive monthly outcome is due to a strong performance in the first half of September: the first week saw the UCITS HFS Index gain +0.38%, followed by a second week gain of +0.34%. The broad index lost its momentum though in week three, losing -0.09%. Although week four brought additional losses of -0.27%, the UCITS HFS Index reported a gain of 0.36% for September 2012. Of all funds tracked in the UCITS HFS Index 63.96% reported a positive return for the month.|
From a sub-strategy perspective eight out of the twelve sub-strategies were positive in September, the best performing being L/S Equity (+0.98%), Convertible (+0.82%) and Global Macro (+0.79%). All three strategies reported big gains in the first half of the month only to lose about a third of the profits in the second half of September. Credit and Fixed Income remain the only two strategies with back-to-back positive monthly results in 2012 with yearly performances of +6.79% and +4.69%, notably also being the only strategies to report a positive performance for the second half of September.
The only three strategies to report a loss for the month are CTA (-1.19%), Arbitrage (-0.45%) and Commodity (-0.19%). CTA and Commodity are also two of the three strategies in the red for this year (-2.08% and –0.79%), the third being Market Neutral (-0.34%). From a year to date perspective the broad UCITS HFS Index now stands at +2.77% in 2012.