Fri, Jul 31, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index loses 0.52% (est.) in October (+2.15% YTD)

Monday, November 05, 2012
Opalesque Industry Update - Global equity markets posted mixed performance for October 2012, as investors discounted mixed US employment data and earnings reports as well as the uncertainties of the continued European banking crisis, US political election and the economic impact of Hurricane Sandy. US equities posted declines across most sectors, with declines in Technology, Telecom and Energy only partially offset by gains in Financials. European equities posted gains in France, Italy & Netherlands, while Asian equities were mixed, with declines across China, India and Korea offsetting gains in Australia & Hong Kong. US yields rose modestly, with front end weakness contributing to curve flattening as credit tightened; the US dollar continued to decline against the Euro, but gained against the Japanese Yen. Metals posted sharp declines led by Aluminum and Silver, while a sharp decline in Oil was offset by a spike in Natural Gas. Agricultural commodities were also mixed with Coffee and Wheat leading declines.

Hedge funds posted declines for the month, with gains in Equity Hedge offset by declines in Systematic Macro; the HFRX Global Hedge Fund Index posted a decline of -0.52% while the HFRX Market Directional Index posted a narrow decline of -0.02%.

The HFRX Equity Hedge Index posted a gain of +0.43% for October, the fifth consecutive month of gains, with contributions from fundamental value and market neutral strategies, as exposure to industrial, financial and consumer sectors in large cap US and European equity led gains. The HFRX Fundamental Value Index led all hedge fund strategies with a gain of +0.90% for the month. The HFRX Market Neutral Index posted a gain of +0.17% with gains in fundamentally-driven market neutral managers, offset by declines in factor-based market neutral strategies. Gains in US small cap and Emerging Markets were offset by declines in Technology exposure, with the HFRX Fundamental Growth Index declining -0.85%.

The HFRX Event Driven Index posted a decline of -0.86% with weakness across Equity Special Situations, Distressed and Merger Arbitrage strategies only partially offset by gains in Activist managers. Activity in the M&A space continued with announcements of SoftBank/Sprint Nextel and Random House/Penguin transactions; performance was also impacted by widening in the BAE/EADS deal. The HFRX Special Situations Index posted a decline of -0.35%, with equity-sensitive declines offsetting credit-sensitive gains. The HFRX Merger Arbitrage Index posted a decline of -1.37% on mixed contributions from core positions in Glencore/Viterra, Eaton/Cooper Industries, Bell Media/Astral Media and activity in the Technology and Pharmaceutical sectors.

The HFRX Relative Value Arbitrage Index posted a decline of -0.74% in October, with mixed performance across corporate credit multi-strategies offset by weakness in non-US credit exposure. Credit tightening offset rising treasury yields while spread-trading strategies posted gains; the HFRX RV: Multi-Strategy Index posted a gain of +0.23%. The HFRX Convertible Arbitrage Index posted a decline of -0.50% as gains in US exposure from rising yields and falling volatility were offset by weakness in Emerging Markets Asia.

The HFRX Macro CTA Index posted a decline of -1.06% for the month, as weakness in Systematic Macro strategies offset gains in Fixed Income and Discretionary Macro. The HFRX Systematic Diversified CTA Index posted a decline of -3.01%, with weakness across most sectors including equity, fixed income, currencies and commodities.

Comments reference performance figures for October 31, 2012

Press release

www.hedgefundresearch.com/hfrx_reg/p>Bg

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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Opalesque Roundup: Hedge fund assets rose to 11th consecutive quarterly record level: hedge fund news, week 31[more]

    In the week ending 24 July, 2015, the total global hedge fund industry assets rose to the 11th consecutive quarterly record level in 2Q15 to $2.97tln; Eurekahedge reported that hedge funds raised $93bn in the first six months of 2015; The SS&C GlobeOp Forward Redemption Indicator for July 201

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

 

banner