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Alternative Market Briefing

CTAs, activist and technology hedge funds lead gainers in 2014

Friday, January 09, 2015

Komfie Manalo, Opalesque Asia:

CTAs, technology and shareholder activist strategies led hedge fund gainers in 2014 as the industry posted a modest 0.31% returns in December and ended the year with 3.57% positive performance, according to data provider Hedge Fund Research. The performance is below the long-term average hedge fund industry performance of 10.7%, as hedge fund managers maintained conservative exposures with equity markets near record highs.

HFR said hedge funds navigated a sharp decline in oil, Russian- and Euro-centric macro/currency uncertainty and equity volatility in December across both emerging and developed markets. Hedge fund strategy gains were led by Macro strategies, with the HFRI Macro (Total) Index up 1.0% for the month and 6.4% for 2014; Macro funds had posted three consecutive calendar year declines. Macro strategies were led by Quantitative, Systematic Diversified CTA strategies, with the HFRI Macro: Systematic Diversified/CTA Index gaining 1.5% in December to complete a gain of 11.2% for 2014, leading all hedge fund strategies.

CTAs posted strong gains in the second half of the year, benefitting from trending behavior in oil, energy commodities and currencies, climbing 11.0% in 2H14, while the HFRI Macro (Total) Index was up +5.3% in 2H14. The HFRI Macro: Currency Index gained 1.8% in December an......................

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