Tue, Apr 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge funds returned 0.69% in November (5.97% YTD) led by credit and volatility strategies – eVestment HFN

Friday, December 07, 2012
Opalesque Industry Update - Hedge funds returned an average of 0.69% in November 2012, retuning back to positive territory after October’s loss snapped its four month upswing. The majority of early reporting funds posted gains, but there were segmented losses across market exposures and strategies.

Credit funds posted their tenth positive month of the year in November, however flow data from October showed the group experienced only its third month of net redemptions this year and largest since January, a signal investors may becoming wary of crowded credit markets having enjoyed over two years of strong relative returns.

Currently reporting equity strategies have outpaced the S&P 500 TR for the second consecutive month and for the first time during a positive month for the benchmark in more than a year. Small cap, technology and energy exposures produced negative returns in November, but it appears aggregated exposures were not weighted heavily enough towards those markets to bring the group down.

The US Dollar Index crept higher during the month, but that did not prevent FX strategies from posting another monthly loss as the Euro strengthened against the USD. Exposures and strategies are diverse across FX funds, but Euro weakness appears to be a root theme across the group as the two best months for FX strategies in 2012 were May and July, coinciding with the Euro’s largest monthly declines.

Emerging market funds were again positive during the month, with exposure to China again being the lone exception. EM funds are among the best in the industry in 2012, despite returns generated from China focused funds being among the industry’s worst.

Macro fund performance appears to have diverged a bit from managed futures in November with the latter likely suffering similar exposure issues as FX funds.

Volatility strategies have not received much attention this year, but produced some of the industry’s best returns. November was their tenth positive month in 2012 and the group has shown an ability to manage its namesake during the few largely negative market environments this year.

(press release)

eVestment/HFN www.hedgefund.net

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. Investing - Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low', Asia CIOs say "non" to Europe, Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether[more]

    Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low' From Reuters.com: London hedge fund firm Ecofin said an offer from Portugal's largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis "significantly undervalues" the company, in a letter to EDPR's bo

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Aris Wealth' quant indices fare well[more]

    Benedicte Gravrand, Opalesque Geneva: Last year, Geneva-based Aris Wealth Management launched indices sponsored by Societe Generale Corporate & Investment Banking. These indices replic

  5. Opalesque Exclusive: Gold Sail diversifies into PE and real estate[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The five Purdue University students who set up a hedge fund last year have become four and have diversified int