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New Managers April 2012

Emanagers Indices:
March 2012 performance of Opalesque's indices of emerging managers funds

Emanagers Total Index up 0.36% in March (+3.79% YTD)

Emerging manager hedge funds and managed futures funds continued their positive performance last month, according to a first estimation based on the data of 288 funds listed in Opalesque Solutions' Emanagers database.

The Emanagers Total Index, tracking both hedge funds and managed futures funds, gained 0.36% in March, lifting its year to date return to 3.79%. Estimates for February and January were corrected to 1.37% and 2.02% respectively. Since January 2009, the index grew over 62% and outperformed both the global stock market and its hedge fund peers.

With six positive and six negative months, the index has delivered a positive performance of 0.55% over the last twelve months but is still lagging its all time high at the end of April 2011.

In contrast to the first two months of 2012, managed futures strategies were the performance drivers in March, while hedge funds performed only slightly positive.

According to our first estimation, the Emanagers Hedge Fund Index gained 0.20% in March and 5.60% for the quarter. Managed futures funds tracked by the Emanagers CTA Index had their first positive month in March, gaining 0.74%. The index is down 0.50% for the first quarter.

Emerging managers thus outperformed the all-funds group represented by the Eurekahedge Hedge Fund Index and the Newedge CTA Index in March, in the first quarter and over the last twelve months. However, they failed to beat the stock market in the first quarter.

Volatility and correlation a......................

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