Wed, Aug 10, 2022
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Event-driven hedge funds underperform but prospects are improving

Tuesday, August 04, 2015

Komfie Manalo, Opalesque Asia:

Event driven managers underperformed, both in the past two weeks (-0.9% as of end July 21) and (-0.6% as of end July 28), partly as a result of exposures to commodity-related sectorss, said Lyxor Asset Management. However, positive developments in healthcare, a sector in which the strategy retains sizeable exposures, are supportive. Overall, the Lyxor Hedge Fund Index was down last week (-0.8%) but remains in positive territory in July (0.7%).

Philippe Ferreira, senior cross asset strategist at Lyxor AM, said that heading into the summer break, companies have continued to report earnings above expectations, especially in Europe. In the U.S, healthcare and consumer goods & services companies posted solid earnings, beating expectations as well.

"Yet, risk assets were under pressure leading to negative returns for hedge funds last week. Such headwinds are likely to be short term and need to be replaced in the context of thinly traded markets amid somewhat disappointing earnings releases in the U.S.," Ferreira said.

Event driven, global macro and long/short equity strategies underperformed. They lost approximately 1% on the back of the negative returns of equity markets (S&P 500 -1.2%, Eurostoxx 50 -2.6% during the period under review).

CTAs outperformed, although they were also in negative territory last week (-0.2%). On a month-to-date basis they achieved super......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: Castle Hall, the Du