Wed, Sep 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRU reports declines across the board to mid-June: Composite index down 1.72%, up 0.98% year to date

Wednesday, June 19, 2013
Opalesque Industry Update - HFR's UCITS indices report the HFRU Event Driven Index posted a decline of -1.06% through mid-June, from declines in Asian and Brazilian Special Situations, Merger Arbitrage and Emerging Markets Credit strategies.

HFRU Relative Value Arbitrage Index declined -1.07% through mid-June, with declines in Emerging Markets, Convertible Arbitrage and Real Estate strategies, only partially offset by gains in Asset-Backed exposure and Volatility managers.

HFRU Macro Index posted a decline of -1.83% through mid-June, with declines in Systematic, Global and Emerging Markets strategies, which were partially offset by idiosyncratic commodity exposure.

HFRU Equity Hedge Index declined -2.11% through mid-June, with losses in Emerging Markets concentrated in Brazil, China and Turkey, partially offset by European equity exposure.

Global financial market volatility increased through mid-June, as investors reduced portfolio risk in anticipation of curtailment of stimulus measures by the US Federal Reserve and as a result of continuing secular unrest in Turkey & Syria. Asian, European and Emerging Market equities posted steep declines through mid-June, led by equities in Japan, South Africa, China, Turkey, Italy & Brazil. US equities posted narrow declines, with weakness in Commodity and Technology sensitive sectors partially offset by gains in Cyclical, Energy and Healthcare equities.

Government bond yields rose through mid-June, rising incrementally and trading in a volatile range after the sharp spike in May; TIPS yields rose as investors sold inflation protected bonds in anticipation of stimulus curtailment, driving real yields into positive territory for the first time in 18 months. Yields also rose across Europe, led by increases in Italy, Spain & Greece. Reversing previous month's gains, the US dollar fell sharply against developed market currencies including the Euro, British Pound Sterling, Japanese Yen and Swiss Franc, although the dollar gained against Emerging Market currencies. Energy and Agricultural commodities gained, led by Crude Oil, Cotton & Hogs, while Metals declined led by Copper & Aluminum. UCITS compliant Hedge funds posted declines, with the HFRU Hedge Fund Composite Index declining -1.72% through mid-June.

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. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style