Sat, Mar 25, 2017
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. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He