Wed, Feb 10, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index gaining +0.62% through mid-February, +0.38% YTD

Thursday, February 20, 2014
Opalesque Industry Update - Hedge funds posted gains with the HFRX Global Hedge Fund Index gaining +0.62% through mid-month, while the HFRX Market Directional Index gained +1.45%.

HFRX Equity Hedge Index posted a gain of +1.56% through mid-February 2014, the best gains since January '13, with contributions from Fundamental and Market Neutral managers. HFRX Fundamental Growth Index rose +2.04%, with gains concentrated in Global Healthcare and European mid- and small-cap equity. HFRX Fundamental Value Index gained +1.44% with performance in Financials, Consumer and European large-cap equity. The HFRX Market Neutral Index gained +0.61%, with gains across mean reverting, factor-based models as volatility declined and dispersion narrowed.

HFRX Event Driven Index posted a gain of +1.21% through mid-February, with contributions from Equity Special Situations and Distressed/Restructuring strategies. HFRX Special Situations Index gained +1.54% through mid-month with contributions from exposure to Energy and Industrials and Financial sectors, with core positioning in Cole REIT, Time Warner, Sensient Technologies, Apple, Herbalife and American Airlines. HFRX Distressed Index posted a gain of +0.41% through mid-month, with contributions from restructurings across Communications, Financials and Technology sectors in the US and Europe. HFRX Merger Arbitrage Index was narrowly changed through mid-month, with mixed contributions from transactions in Suntory/Beam, CapitalSource/PacWest Bancorp, Avago Technologies/LSI and Tower Financial/Old National Bancorp.

HFRX Relative Value Arbitrage Index posted a gain of +0.57% through mid-February with contributions across Convertible Arbitrage and Multi-Strategy managers as credit tightening offset rising yields. HFRX Convertible Arbitrage Index gained +0.64%, as credit gains offset volatility declines, while HFRX RV: Multi-Strategy Index and HFRX Fixed Income Credit Index posted gains of +0.55% and +0.54%, respectively. HFRX MLP Index gained +1.84% on strong demand for energy infrastructure partnerships, leading all Indices with a +3.45% YTD gain.

HFRX Macro Index posted a decline of -1.31% through mid-February, with weakness in trend-following CTA and Discretionary Macro partially offset by gains in Emerging Markets exposure. HFRX Macro: Systematic Diversified Index declined -2.02% with weakness across currency, commodity equity and fixed income exposures, while the HFRX Emerging Markets Index posted a gain of +0.09% with contributions from Asian convertible strategies, paring prior month losses.

Global financial markets posted gains through mid-February, as corporate earnings results continued to be favorable and the transition in US Federal Reserve leadership proceeded without significant modifications to existing policies. Global equity markets posted gains through mid-February, recovering early month losses and paring losses for FY 2014, with US leadership from Technology, Commodity-sensitive, Cyclicals and Healthcare sectors. European and Asian equities also posted gains through mid-month, with leadership from France, Germany, Italy and Switzerland, while Asian equities were led by China, Australia and Thailand. US yields rose as the curve steepened, with increases concentrated in longer dated maturities; European yields were little changed through mid-month as high yield credit tightened and overall asset volatility fell, despite an early month increase. The US dollar fell against the British Pound Sterling, Swiss Franc and Euro, while also declining against Emerging and Commodity currencies including Canadian Dollar, Australian Dollar, South African Rand and New Zealand Dollar. Commodities posted gains across Metals, Energy and Agriculturals, led by Oil, Natural Gas, Gold, Silver, Coffee and Soybeans.

Comments reference performance as published through February 14, 2014.

press release

www.hedgefundresearch.com/hfrx

Bg

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. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  2. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  3. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  4. Investing - Real estate secondaries sole 'bright spot' in 2015, As hedge funds stumble, one firm prepares to buy illiquid stakes[more]

    Real estate secondaries sole 'bright spot' in 2015 From IPE.com: The secondary market for property was the sole “bright spot” over the course of 2015, as hedge fund secondaries saw deals fall by two-thirds, according to a wide-ranging survey of the market. Setter Capital said 2015 saw th

  5. Opalesque Exclusive: Directors want to be considered trusted partners by new manager[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A hedge fund director provides her perspective on emerging hedge fund managers. She will happily work with those who have set themselves up for future growth, s