Opalesque Industry Update - Hedge funds delivered their third consecutive month of positive returns as global markets maintained their upward momentum. The Eurekahedge Hedge Fund Index was up 1.37% during the month, edging past the MSCI World Index which gained 1.27% in the month of November 2013.|
Key highlights for November 2013:
- Total assets in the hedge fund industry are now at a record of US$1.97 trillion, surpassing the previous record of US$1.95 trillion in June 2008
- Net asset flows for the year recorded at US$122.2 billion, with net allocations to North American managers standing at US$64.0 billion year-to-date
- European fund managers were up 7.41% November year-to-date with net asset inflows for the year standing at US$48.2 billion - the highest level on record
- Asia ex-Japan hedge funds have outperformed the underlying markets by more than 10% November year-to-date
- Greater China focused hedge funds outperformed the Hang Seng Index by over 12% as at end-November
- Latin America focused managers posted fifth consecutive month of positive returns - outperforming the MSCI EM Latin America Index by almost 8% on a year-to-date basis
- Distressed debt investing remain the best performing strategy in 2013, up 14.81% November year-to-date
- Japanese hedge funds remained ahead of other regions, up 24% as at end-November
Eurekahedge is currently tracking over 1200 funds with year-to-date returns in excess of 15%
All regional mandates, with the exception of Eastern Europe & Russia, posted positive returns with Asian hedge fund managers leading the way. The Eurekahedge Asia ex Japan Hedge Fund Index is up 1.73% during the month, outperforming the MSCI Asia Pacific ex Japan Index which was down 0.05%. Japanese fund managers posted yet another month of positive returns, up 1.27% as the Nikkei 225 Index climbed 9.31% helped by a fall in the value of the yen relative to the dollar. North American managers were up 1.18%, (8.59% year-to-date) as equity markets rallied to new highs with the NASDAQ, S&P500 and DJIA gaining 3.58%, 2.80% and 3.48% respectively during the month. European fund managers posted gains of 0.43%, ahead of the MSCI Europe Index(4) which was up 0.37% during the month. Emerging markets focused funds are up 0.47%, with fund managers exposed to India posting losses (down 1.88%) as the BSE Sensex Index declined 1.76% in November.
Eurekahedge indices are available for download from www.eurekahedge.com/indices/hedgefundindices.asp and are updated with the latest fund returns at 23:30 GMT every day.