Mon, Mar 2, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRU Equity Hedge Index up 0.43% in December (+8.67% YTD)

Wednesday, January 08, 2014
Opalesque Industry Update - Global financial markets posted mixed gains in December, recovering intra-month, mid-December declines to conclude strong performance for both 4Q and FY 2013 as the US Federal Reserve began the process to reducing quantitative easing measures. Global equity markets were mixed, with US & European gains partially offset by mixed performance in Asia and Emerging Markets. European equities also posted gains, led by Germany, Russia, the U.K., Sweden and the Netherlands, while Asian equities were mixed with gains in Japan, Taiwan and India offset by declines in China, Hong Kong and the Philippines.

Equity gains were led by the US as the outlook for the US economic recovery continued to improve with large cap Industrials leading December performance; Semiconductors, Telecommunications and Energy sectors led performance in December. Despite the broad based gains, certain developed and emerging markets posted declines for the month, led by Turkey, Argentina, Italy & Brazil. Fixed income yields rose as the US Federal Reserve reduced monthly fixed income purchases, with the U.S. 10 Year bond yield closing the year above 3%, while the US curve flattened as yields rose more sharply in shorter dated issues.

European yields also generally rose led by increases in UK Gilts, German Bunds, France, Russia and the Netherlands, while high yield credit tightened into year end. The US dollar posted mixed performance, with gains against the Japanese Yen, Argentine Peso and Indonesian rupiah offset by declines against the British Pound, Euro and Swedish Krona. Energy commodities posted gains led by Crude Oil & Natural Gas, while Metals were mixed as Gold & Silver declined; agricultural commodities declines were led by Wheat & Sugar, while Cotton gained. UCITS compliant Hedge funds posted gains, with the HFRU Hedge Fund Composite Index gaining +0.22% for December.

The HFRU Equity Hedge Index posted a gain of +0.43% for December, with positive contributions from Global Technology, Financials, European and Diversified Emerging Markets equities, which were partially offset by exposure to Turkey, Brazil and China.

HFRU Event Driven Index posted a gain of +0.80% for December, with contributions from European Equity Special Situations, Capital Structure Arbitrage and Merger Arbitrage managers, which were only partially offset by Emerging Markets exposure.

HFRU Macro Index posted a gain of +0.11% for December, with contributions from Systematic CTA, Discretionary Commodity and Trading Oriented strategies, which were only partially offset by declines in Commodity Metals and discretionary Currency exposure.

HFRU Relative Value Arbitrage Index posted a decline of -0.13% for December, with gains in Fixed Income, Asset-Backed and Convertible strategies offset by declines in Volatility and Emerging Markets exposure.

(press release)
km

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. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie