Industry Updates

UCITS Alternative Index Global down 0.33% in March (+0.34% YTD)

Friday, April 04, 2014

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Opalesque Industry Update - UAI Benchmarks
Most UCITS absolute return funds return negative performances in March 2014. The UAI Global which tracks the performance of more than 700 single UCITS absolute returns funds is down -0.33% for the period. Funds of funds also experience a difficult period with -0.65% and are now up 0.21% since the beginning of the year. Despite the challenging market environment Multi-Strategy and Fixed Income funds finish the month with positive performance up 0.41% and 0.10% respectively. The worst results are achieved by CTA and Event-Driven managers with -1.10% and -0.59%. Long/Short Equity funds are the best performing funds since the beginning of the year with a progression of 1.50%. They are followed by Fixed Income and Equity Market Neutral funds with up 0.80% and 0.77%.

UAIX Indices
UAIX indices display mixed performance in March. The best results are achieved by the two fixed income indices with progressions of 0.37% for the UAIX Fixed Income ? Global and 0.28% for the UAIX Fixed Income - Developed Markets. On the other hand the UAIX FX and UAIX Commodities return the worst monthly performances with -2.12% and -1.50%. Since the beginning of the year the UAIX Long/Short Equity and UAIX Equity Market Neutral are the best performing strategy indices with progressions of 2.60% and 2.28%.

UAI Blue Chip
The UAI Blue Chip is down -0.21%% in March and down -0.05% for the year. The good performance of the Fixed Income managers - up 0.75% on average - was not enough to offset the bad results of the FX, Commodities and Long/Short funds. These three strategy buckets respectively accounted for -13bp, -10bp and 6bp of the monthly performance. Event-Driven funds are the best performers since the beginning of the year with a progression of 3.10%. They are followed by Equity Market Neutral funds up 1.68%.

Number of funds and AUM
The total assets managed in UCITS absolute return funds continue to surge to reach EUR 220 billion at the end of March. As for the previous months Fixed Income and Long/short Equity funds capture the bulk of the inflows with respectively EUR 6.7bn and EUR 3.6bn. For the latter this represents a progression of 13% for the month and 37% since the beginning of the year. On the other hand, poor performing strategies such as Commodities, CTA and Volatility are all losing assets during the period.

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