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Alternative Market Briefing

Asian long/short hedge funds beneficial in risk on/risk off phases in Western markets

Tuesday, March 31, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds continue to climb higher with the Lyxor Hedge Fund Index up 3.5% year-to-date (up to 24th March). The asset class was supported this week by long/short equity and in particular Asian managers that have done particularly well, said Lyxor Asset Management in its Weekly Briefing.

Lyxor said that the successful stock-picking of Asian managers captured the buoyant market environment on the long book without losing much on the short book. Over the recent months, Lyxor has been advocating the benefits of Asian long/short managers for diversification purposes and continue to do so.

"In the long/short equity space, Asian managers outperformed. For some time we have been highlighting the attractiveness of Asian long/short for diversification purposes against risk on/ risk off phases in Western markets," said Philippe Ferreira, Lyxor AM’s head of research, managed account platform.

Event driven up 1.3% MTD

Meanwhile, event driven managers are up 1.3% month to date (up to 24th March). Investments in the consumer and communication sectors were the prominent contributors, on the back of the Vivendi saga amongst others. One hedge fund investor was reported to be advocating that the company should distribute euro 9bn of special dividend and spinoff Universal Music, triggering a 5% rise of the stock price.

Ferreira added, "Following the 17-18 March Federal ......................

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