Wed, May 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers February 2012

Peter Urbani' Statistics
Peter Urbani's quantitative analysis of emerging managers' performance

Emerging Managers outperform strongly since 2007 - keep pace with Equities post 2008

Peter Urbani An analysis of the funds contained within the Opalesque Emerging Managers Index shows the following:

The Opalesque Emanagers Total Index has delivered compound average annual returns of just under 17% since Jan 2007* and just over 16% since Jan 2009 post the 2008 crisis period. This postcrisis period return is in line with the just under+16% from Equities and very substantially higher than that of all of the comparative Hedge Fund benchmarks.

In the wake of the 2008 crisis period we saw a plethora of new alternative investment structures launched to meet the increased demands for liquidity and transparency. These included the increasing popularity of various Managed Account platforms, Newcits (UCITS III compliant) funds and even a number of US Act40 Alternative ETF's.

Three years down the track we can say that at this stage the aggregate returns of these newer vehicles have been disappointing with Managed Accounts averaging +2.76%, Newcits +2.37% and Fund of Funds +3.03%. It is worth noting that Bonds returned +5.66% p.a. over this period. The broader stand alone Hedge Fund universe returned a respectable +8.8%.

If one looks at the longer 4 year history from 2007 then you can see why Funds of Funds in particular are continuing to struggle as fully 50% of them remain below their high water marks and are not able to earn performance fees. Equities have also yet to recoup all of their 2007 - 2008 losses.

*based on a statistical backfill for period prior to Jan 20......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  3. Mitch Petrick leaves Carlyle as his hedge fund unit suffers losses while assets expand[more]

    Komfie Manalo, Opalesque Asia: Mitch Petrick will be leaving Carlyle Group as head of its hedge funds unit overseeing about $34bn as of March 31, after several funds under his management suffered losses while assets expanded, various media reported. Petrick joined Carlyle in 2010 and was a former

  4. Institutions - Kentucky pension leans into hedge funds amid governance turmoil, Korea's NPS names finalists for initial $1 billion hedge fund-of-funds allocation[more]

    Kentucky pension leans into hedge funds amid governance turmoil From AI-CIO.com: The Kentucky Retirement Systems moved to increase its hedge fund allocation as controversy reigned over fund leadership. Following a string of high-profile hedge fund exits, the Kentucky Retirement Systems (

  5. Fund Profile - The hedge fund that couldn't stay open long enough for a big payday[more]

    From Bloomberg.com: Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off. But before the reckoning, word came down from his hedge fund bosses at Achievement Asset Management in Chicago: get ready to clear out your desk and unwind your trades, we’re shutting down. Th