Tue, Jul 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRU Global Hedge Fund Index up 0.63% to mid February, up 1.46% year to date

Thursday, February 21, 2013
Opalesque Industry Update - UCITS hedge funds extended gains through mid-February, with the HFRU Global Hedge Fund Index gaining +0.63%, with positive contributions across all main strategies.

HFRU Equity Hedge Index gained +0.99% through mid-February, with positive contributions from exposure to Technology, Telecom, Financial, Emerging Markets and US and European small cap equity.

HFRU Event Driven Index gained +0.58% through mid-February, as M&A activity surged on both strategic and financial transactions. Activity spanned across range of deals including Dell, Heinz, American-US Airways, Liberty Global /Virgin Media, Dish Network/Clearwire, and including continuing activist and special situations activity in Apple and Herbalife.

HFRU Relative Value Index gained +0.57% through mid-February, as corporate credit and deal spreads continued to tighten while government bond yields remained steady, with positive contributions from Convertible Arbitrage, Real Estate & Property and Fixed Income Arbitrage exposures.

HFRU Macro Index gained +0.24% through mid-February, with positive contributions from Currency, Commodity and CTA strategies as currency trading volume spiked on activity in Euro, Swiss, US dollar and short Japanese Yen positions.

Hedge Fund Research's mid February 2013 performance notes revealed that global equity markets extended 2013 gains through mid-February, as both active currency exposure and increased M&A activity contributed to hedge fund performance gains. European equities were mixed across regions, with gains in UK, Switzerland and Sweden offset by declines in France, Germany and Italy; Asian equities continued recent strong performance, with gains across Japan, China, Australia and the Philippines.

US equities gained across most market capitalization, with leadership from small cap and value exposures. Semiconductors and Oil Services led sector gains, with additional contributions from REITS and Non-Cyclicals. The US dollar posted gains against most major currencies through mid-February, including the Euro, Swiss Franc, British Pound Sterling and the Japanese Yen; US/Yen traded actively to a 33-month high in early February on expectations of continued Bank of Japan stimulus.

Despite the active currency trading, sovereign yields were little changed across US, France, Germany, Spain and the Netherlands through mid-February, and modest increases in UK and Italy. Platinum, Oil and Lumber led commodity gains which were offset by declines in Natural Gas, Silver & Wheat. M&A activity spiked through mid-month, with activity across range of deals and continuing activist and special situations activity contributing to strong Event Driven performance.

Press release

bc

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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro