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