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UCITS Alternative Index Global down 0.39% in October, up 0.60% YTD

Wednesday, November 05, 2014
Opalesque Industry Update -

UCITS absolute return fund performances
UCITS absolute return funds were not immune to the October 2014 market turbulences and finished the month down -0.39% as measured by the UAI Global Index. Only two strategies display positive returns for the period: Emerging Markets and Equity Market Neutral up 0.49% and 0.24% respectively. On the negative side the two worst performing strategies are Event-Driven and Commodities down -1.94% and -1.63%. CTA and Fixed Income are the best performing funds on average since the beginning of the year with progressions of 4.40% and 1.30% while Commodities and Even-Driven show the lowest returns with -2.83% and -2.71%. With -1.25% the month was particularly difficult for funds of funds. Taking into account the October drawdown their performance since the beginning of the year now stands at -0.92%.

UAIX indices
With the exception of the UAIX CTA, FX and Equity Market Neutral all UAIX strategy indices suffered from the market volatility in October. Given that the performance of the UAIX is based on the prices available on the last Wednesday of the month most of the rebound that occurred in the last two days is not accounted in the performance displayed. Despite this lag, one can see that the UAIX CTA and UAIX FX continue to the lead the way in terms of performances with progressions of 1.73% and 0.38% for the month. They are also the two best performing strategy indices since the beginning of the year up 4.39% and 2.97%.

UAI Blue Chip
Despite the strong rebound of the last week (up 0.58%), the UAI Blue Chip ends October down -0.83%. With the exception of the CTA and Market Neutral funds up 0.50% and 0.46% all strategies are down for the month. The worst results are recorded by the Event-Driven allocation down -4.40%, one of its worst historical performances. The UAI Blue Chip is down -0.08% for the year.

Number of funds and AUM
Despite the market turbulences assets managed by UCITS alternative funds advance by EUR 2.5 billion in October. Long/Short Equity funds collect the largest part of it with EUR 1.6 billion. Coming next are Multi-Strategy and Macro funds with EUR 553 million and EUR 454 million. Fixed Income funds records a decrease in asset of EUR 1.3 billion. The is partially explained by strong redemption - almost EUR 3 billion - experienced by the Ignis Absolute Return Government Bond Fund following the announcement that key members of its investment team were leaving. Since the beginning of the year UCITS absolute return fund progressed by more than 31% (or EUR 61 billion).

Press release

Full performance table: www.ucits-alternative.com

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