Opalesque Industry Update - The UCITS Alternative Index Global advanced by 0.65% in September and is now up 2.00% for the year. The positive performance is due to the good results of Long/Short Equity funds - up 1.61% - as well as Emerging Markets and Event-Driven funds - up respectively 1.19% and 0.93%. September proved to be a more challenging month for UCITS Commodities and UCITS FX funds, down -1.88% and -1.08%. With -0.41% in September UCITS CTA managers record their fifth consecutive month with negative performance and are now down -2.33% for the year.|
UCITS Long/Short Equity funds are by far the best performing strategy this year with 6.96%. They are followed by Event Driven funds up 2.79% and Multi-Strategy up 2.14%. On the negative side, three strategy indices are down more the 3% for the year. The UAI Volatility is down -3.36%, the UAI FX -3.31% and the UAI Commodities -3.19%. September is a good month for UCITS funds of funds. They progress by 0.80% and are now up 2.50% for the year. The relative good performance of funds of funds is explained by their large tilt towards Long/Short Equity funds.
UAI Blue Chip: The UAI Blue Chip is up 0.47% for the month and 2.03% for 2013. Emerging Markets and Event Driven funds return the best performance with an average progression of 3.27% and 2.48%. With 26bp Emerging Market funds deliver the largest positive performance contribution, followed by Fixed Income funds with 9bp and Long/Short Equity funds with 8bp.
UAIX Indices: UAIX indices display mixed performance in September with only 7 out of 12 strategy indices ending the month with positive returns. The best performing index is the UAIX Emerging Markets up 1.87%. It is followed by the UAIX Event-Driven and the UAIX Long/Short Equity up 1.29% and 1.12%. The UAIX CTA is the worst performing strategy index this month with -1.36%. Since the beginning of the year the best performing index is the UAIX Long/Short Equity with a progression of 8.86% as of the end of September.
AUM and number of funds:
The total assets managed by single UCITS hedge funds increased to EUR 174 billion at the end of September. The UCITS Alternative Index is currently composed of more than 840 UCITS absolute return funds and funds of funds.