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Opalesque Exclusive: Swiss FoHFs expect stable and positive returns in Q2 2008 - all FoHFs indices up in April but still down YTD
According to the S&P, the first quarter of 2008 was one of the worst for funds of hedge funds, Swiss paper Le Temps reported. Returns published last week by Edhec-Risk show the same phenomenon. And according to the French Institute, FoHFs show a loss of 2.9% between January and end-April 2008, despite a return of 1.07% in the last month.
The main FoHFs houses in Switzerland are expecting more stability in the second quarter. UBP’s FoHFs have gone up during April. However, the performance over the first 4 months of the year is still down from 2.7% to 4.5%.
At Lombard Odier Darier Hentsch & Cie, Q1 performances vary from -0.8% (LODH Multiadvisers - Latin America Equity Long/Short in dollars) and -15.2% (LODH Multiadvisers - Europe Equity Long Short). The later lost due to its allocation in the Peloton and Focus Capital hedge funds, both liquidated in March. According to experts at LODH, April and May look more positive. The range of FohFs shows positive returns in April and up until mid-May. The LODH Multiadvisers-Europe Equity Long/Short (+3%) and the LODH Multiadvisers - Latin America Long/Short (+2,8%) did particularly well in April.
All indices below show a 2008 YTD return (up to March or April) of -3.15% or lower:
The EDHEC Alternative Indexes for funds of funds show a return of -2.62% for March 2008 and ...................... To view our full article Click here
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