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Alternative Market Briefing

Hedge funds decline in mid-December on oil and Russian ruble concerns

Tuesday, December 23, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds decline in mid-December on oil and Russian ruble concerns Hedge funds declined slightly in mid-December with the HFRX Market Directional Index falling -0.73%, while the HFRX Global Hedge Fund Index retreated -1.31%, said industry tracker Hedge Fund Research in its mid-December performance notes.

HFR said that oil prices plunged through mid-December on excess supply concerns, contributing to increased equity market volatility and pressuring the Russian ruble to a historic low to the U.S. Dollar. Oil declined over 20% intra-month, this following steep losses in recent months bringing the decline to nearly 50% from the 2014 intra-year high.

Global equities posted steep losses through mid-month, though U.S. and Asian markets largely recovered to post mixed MTD performance, while European equities remained lower. Russian equities led declines through mid-December on the sharp decline in oil and ruble weakness; Brazil also posted sharp losses while Italy, France and UK equities declined. Chinese equities posted sharp gains through mid-month, while India and other Emerging Asia posted declines.

U.S. gains through mid-December were led by small cap, biotechnology and healthcare, while energy, commodity-sensitive and cycl......................

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