Sun, Apr 30, 2017
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 1.45% through mid-January

Wednesday, January 23, 2013
Opalesque Industry Update - Global equity markets posted gains to begin 2013 as investors responded to near term settlement of many of the issues surrounding the US fiscal cliff on the final trading day of 2012. Equity gains were broad based across regions, with leadership from the US, UK, Italy, Spain, Switzerland and Argentina, while Energy & Oil Service, Technology & Biotechnology led gains across sectors. US treasury yields rose across all maturities as the 30 year yield rose above 3 percent; Germany, France & UK also saw rising yields, although yields declined across Spain, Japan & Italy. The US dollar gained against the Japanese Yen, Euro & Swiss Franc, while falling against the Euro. Energy & Metals commodities rose led by Oil & Platinum, while gains in Agricultural commodities were led by Coffee, Corn & Cocoa.

The HFRX Global Hedge Fund Index gained +1.45% through mid-January 2013, with positive contributions across all main strategies led by Event Driven. The HFRX Market Directional Index gained +2.20% through the same period.

Continuing its gains from the prior months, the HFRX Event Driven Index posted a gain of +2.20% through mid-Jan. The HFRX ED: Special Situations Index gained +2.64% with robust activity across the Media, Technology and Technology sectors; Special Situations strategies were active in a dynamic situation surrounding Herbalife. The HFRX Merger Arbitrage Index gained +0.39%, as M&A deals continued with announcements of the Dish Network/Clearwire, Avis/Zipcar deals, while European regulators blocked the UPS acquisition of TNT Express. Continued tightening in high yield credit also contributed to gains with the HFRX ED: Distressed Index gaining +0.65%, while Activist strategies also contributed to gains.

The HFRX Equity Hedge Index gained +1.82% through mid-Jan as equity markets gained across most geographies and sectors upon the agreements around the US fiscal cliff. The HFRX Fundamental Value Index and the HFRX Fundamental Growth Index posted a gains of +2.21% and +1.59%, respectively. Factor-based market neutral models declined while fundamental-based managers posted mixed performance, with the HFR Market Neutral Index returning -0.27% for the period.

Also continuing its gains from the past months, the HFRX Relative Value Index gained +1.55% through mid-Jan, with gains across Convertible, Corporate credit and Multi-Strategy FI Arbitrage. The HFRX RV: Multi-Strategy Index gained +1.51%, with positive contributions from US Multi-strategy and Asian credit exposures, partially offset by Commodity spread trading strategies. The HFRX RV: Convertible Arbitrage Index gained +0.82 % with strong contribution from Emerging Markets and US FI exposure, while the HFRX Fixed Income - Credit Index gained +1.16%. Yield alternative strategies posted strong performance with the HFRX MLP Index gaining +4.57% for the period.

The HFRX Macro Index posted a modest gain of +0.03% through mid-Jan, with positive contributions from Currency and Fixed Income Discretionary managers, offset by declines in Systematic CTA strategies, with the HFRX Macro: Systematic Diversified Index declining -0.33% for the period. The HFRX Emerging Markets Index posted a gain of +0.38% from contributions from Asia and Emerging Europe.

Press release

www.hedgefundresearch.com

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: Ex-Man manager combines sustainable investing with AI/ML[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Dr. Richard Bateson, quant fund manager and physicist, has recently

  2. Other Voices: "Winner-take-all" dynamics and hedge fund investing[more]

    A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant

  3. Investing - How Chipotle's comeback attracted big data robots and value investors alike[more]

    From Forbes.com: When William Ackman's ailing hedge fund Pershing Square Capital Management bet $1 billion on shares in Chipotle Mexican Grill beginning in July 2016, the stakes couldn't have been higher. Pershing Square was reeling from what would eventually be a near $4 billion loss in drugmaker V

  4. Gondor Capital sees challenges ahead for financial markets as two hedge funds post strong gains in Q1[more]

    Komfie Manalo, Opalesque Asia: Vincent Au, portfolio manager of New York-based hedge fund firm Gondor Capital Management believes that the remaining of the year would be challenging for the financial markets even as his two hedge funds maintain

  5. Service Providers - Colemore launches fee tracking service for limited partners[more]

    Following Colmore's successful launch in January 2017, the firm has announced the launch of FAIR.. FAIR is designed to help private equity investors independently validate fees and incentives charged by underlying managers, saving time and providing an extra level of comfort. There is a glob