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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...................... To view our full article Click here
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