Sun, Oct 23, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Update: Greenwich Hedge Fund Index up 0.36% in November, 4.6% YTD

Monday, December 17, 2012
Opalesque Industry Update – Hedge fund managers returned modest gains on average amidst volatile markets in November 2012, with the Greenwich Global Hedge Fund Index up +0.36% for the month.

Most strategies reported positive results for the month, with the notable exception of Managed Futures. The GGHFI’s gain of +0.36% trails global equity returns in the S&P 500 Total Return (+0.58%), and MSCI World Equity (+1.07%) equity indices. 62% of constituent funds in the GGHFI ended the month with gains.

Global Index Strategy Highlights

• Markets fell sharply early in the month after the US elections, only to reverse course mid-month and end the month with gains. On average, Long/Short Equity funds were not quite able to keep up, gaining +0.40%. Growth oriented funds just barely led the way among sub-strategies (+0.49%) and were closely followed by Opportunistic (+0.46%) and Value funds (+0.43%).

• Arbitrage (+0.75%) and Event-Driven (+0.62%) strategies performed particularly well during the month. Within these strategies, Merger Arbitrage, Convertible Arbitrage, and Other Arbitrage were the top performers, all returning over 1% for the month. Distressed Securities also saw another strong month (+1.00%), and remains one of the top strategies YTD (+10.58%).

• Managed futures funds posted their fourth straight month of losses in November, losing -0.23%. This strategy is now down -3.36% YTD.

• Regionally, funds investing in Emerging Markets (+0.35%) performed similarly to those investing in Developed Markets (+0.36%) on average, though the results are more divergent on a region by region basis. Managers focused on Emerging Asian markets had the most successful month amid signs of renewed growth in China, posting gains of +1.54% on average. They were followed by Western European funds (+1.37%), as additional financial aid for Greece bolstered confidence. Despite the continuing debt crisis, European funds are now nearly the top performing funds on a regional basis YTD, up 7.88% and second only to Latin American funds (+7.89).

Press release

Full performance table:

November's first estimates were reported on December 6th: Source


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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Other Voices: Follow the advice of investment consultants - I think not[more]

    Mark Rzepczynski, Founding Partner, Chief Investment Officer AMPHI Research and Trading, writes on Harvest Exchange: Investment consultants are a force to the reckoned with in the pension world. They advise and drive many pension decisions around the globe. Consultants literally control trillion