Fri, Apr 25, 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   |   
Banner
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: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance