Mon, Jun 27, 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 gains +0.75% through mid-December (3.35% YTD)

Friday, December 21, 2012
Opalesque Industry Update - Global financial markets posted gains through mid-December 2012, as reflecting cautious optimism and improved investor sentiment with regard to political and macroeconomic uncertainty of the US fiscal cliff and the European banking and sovereign debt crisis. Equity markets posted gains across most regions, including US, European and Asian, with equities in China, other Emerging Markets and small cap posting the most significant gains. Most sectors also posted positive performance through mid-month, with gains in Financials and Telecom offsetting declines in Energy and Commodity related exposure. US treasury yields rose as the curve shifted upward across most maturities, while Gold posted declines, consistent with most other Metals. The Euro and British Pound gained against the US dollar on positive developments with regard to European bank risk oversight framework, however the Japanese Yen fell against the US dollar following Japanese elections and in expectation of additional BoJ stimulus. Oil and Natural Gas declined through mid-month, however most Agricultural commodities rose, with Cotton and Lumber leading gains.

Hedge funds posted 5th gain in the past 6 months, with the HFRX Global Hedge Fund Index gaining +0.75% through mid-month, while the HFRX Market Directional Index gained +0.63%.

The HFRX Relative Value Arbitrage Index posted a gain of +0.92% through mid-December, with positive contributions from Corporate Credit, Commodity Arbitrage and Convertible strategies. The HFRX RV: Multi-Strategy Index posted a gain of +0.90%, with positive contributions from US credit, commodity spread arbitrage and Emerging Markets exposure. The HFRX Convertible Arbitrage Index posted a gain of +0.18% with gains in Japanese credit and mixed performance from US exposure.

The HFRX Macro CTA Index posted a gain of +0.76% for the period, with gains in systematic strategies, global fixed income, Emerging Markets exposure partially offset by global multi-strategy managers. The HFRX Systematic Diversified CTA Index posted a gain of +1.35%, with medium term trending models and pattern-recognition strategies posting gains, only partially offset by systematic currency managers. Global discretionary macro strategies experienced gains from exposure to Emerging Markets fixed income and currencies, while commodities exposure had mixed performance.

The HFRX Event Driven Index posted a gain of +0.71% through mid-December, with gains across all ED strategies. Activity in the M&A space continued with deal announcements of Sprint/Clearwire and Delta/Virgin Atlantic and approvals of the Glencore/Viterra deal. The HFRX Merger Arbitrage Index posted a gain of +1.10% on contributions from core positions in Glencore/Viterra, Duke Energy/Progress Energy, Health Care REIT/Sunrise Senior Living and Eaton/Cooper Industries. The HFRX Special Situations Index posted a gain of +0.70% as corporate transaction activity and special dividends continued at a robust pace, with positive contributions across both equity and credit sensitive exposures with gains concentrated in the financial, utilities and energy sectors; the HFRX Distressed Index posted a gain of +0.25% for the period.

The HFRX Equity Hedge Index posted a gain of +0.63%, as growth oriented strategies posted gains followed by value and market neutral strategies exposures. Following the strong performance of the prior month, the HFRX Fundamental Growth Index gained +1.31% through mid-month from exposure to Latin American equity, US mid/small cap, communications and technology sectors. The HFRX Fundamental Value Index posted a gain +0.50%, with contributions from US large cap in the consumer and telecom sectors, partially offset by European exposure. The HFRX Market Neutral Index posted a gain of +0.09% for the period.

Press release

www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login_bd

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 Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. 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,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider