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UCITS absolute return funds end April down -0.37%; (-0.03% YTD)

Tuesday, May 06, 2014
Opalesque Industry Update - UCITS absolute return funds end April down -0.37% as measured by the UAI Global Index and have now turned slightly negative on average for the year down -0.03%. Equity focused strategies record the worst monthly returns with -0.98% for the UAI Long/Short Equity and -0.89% for the UAI Equity Market Neutral. On the positive side the best results are achieved by the UAI CTA up 0.58%, the UAI Commodities up 0.38% and the UAI Fixed Income up 0.25%. Totaling now eighth consecutive months of positive return the UAI Fixed Income is also best performing strategy index since the beginning of the year. In line with the broad market, funds of funds also lose ground in April with -0.44% and are now down -0.23% since the beginning of the year.

UAIX Indices

Despite the challenging market environment the majority of UAIX single strategy indices finish the month with positive performance. The best performing one is the UAIX CTA up 1.48%, returning its first positive month since the beginning of the year. The UAIX Volatility and the UAIX FX are the next best performing indices up 0.65% and 0.52% respectively. On the negative side the worst returns are the results of the UAIX Long/Short Equity down -3.15% for the month and bringing its year to date performance to -0.62%. The next worst performing indices in April are the UAIX Event-Driven down -1.58% and the UAIX Macro down 1.45%. Since the beginning of the year the best performing index is the UAIX Equity Market Neutral up 1.28% followed by the UAIX Fixed Income – Developed Market up 1.19%.

UAI Blue Chip

The UAI Blue Chip loses -0.70% in April and is now down -0.75% since the beginning of the year. The worst performances are due to the Event-Driven and Long/Short Equity managers, respectively down -4.52% and -2.54% while the CTA and Fixed Income ones are the only ones that managed to end the month with positive performance (up 1.31% and 0.08%). Long/Short Equity and Marco funds are the two largest performance detractors with -0.51bp and -0.14bp.

Number of funds and AUM

The total assets managed in UCITS absolute return funds continue to advance in April to reach EUR 222 billion. Equity Market Neutral and Even-Driven funds record the largest monthly progressions with 8% and 7% while CTA and Emerging Markets display the largest percentage outflows with -7% and -5%. In absolute terms Fixed Income collected the largest amount of money last month with more than EUR 1.4 billion. Since the beginning of the year Event-Driven, Long/Short Equity and Equity Market Neutral are the top strategies in term of asset progressions with respectively plus 45%, 40% and 32%.


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