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Alternative Market Briefing

Emerging Market hedge funds gain in October on China and Russia exposure

Monday, November 23, 2015

Komfie Manalo, Opalesque Asia:

Emerging markets (EM) lead hedge funds gains in October driven by exposures in China and Russia as risk tolerance and liquidity returned to emerging equity markets. The HFRI Emerging Markets Index rose +3.4% during the month of October 2015 (-1.83% YTD). This was the first month since April that emerging market hedge funds post positive gains, according to the latest HFR Emerging Markets Hedge Fund Industry Report.

However, HFR noted that the total investments in emerging markets hedge funds dropped by more than $11bn in Q3 from a record $187bn in 2Q as investors redeemed $2.5bn, and EM funds declined nearly $10 billion on performance-based losses in the quarter.

"Emerging Market hedge fund performance reached a critical inflection point to conclude the third quarter, as the relative divergence between favorable investor sentiment towards developed markets and a pessimistic outlook towards emerging markets reached extreme levels, and October performance reflected only the beginning of a convergence between expectations for emerging and developed markets," stated Kenneth J. Heinz, President of HFR in a press statement.

HFRI China Index gained +5.9%, Russian funds post best YTD results

The report added that October performance was led by hedge funds investing in China, with the HFRI China Index ......................

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