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Alternative Market Briefing

Hedge funds shed some but still outperform markets

Tuesday, February 02, 2016

Komfie Manalo, Opalesque Asia:

January started the year with a brutal decline in the markets but a recent rebound in risk assets fuelled event driven managers and pared hedge fund losses which the strategy registered earlier last month, Lyxor Asset Management said in its monthly report.

However, this was not enough to lift the Lyxor Hedge Fund Index into positive territory, the index ended the month down -1.3%. With regard to specific hedge fund strategies, CTAs outperformed in January with +3.2% gains and event driven underperformed with a -2.5% decline.

Compared with the benchmarks, hedge funds still outperformed the markets during the month. The extreme market volatility at the start of 2016 was rough for the equity market as the S&P 500 Index slumped -5.1% last month. The Dow Jones Industrials Average (DJIA) reported its biggest monthly decline since August and the biggest January loss since 2009 down -5.5%. The Nasdaq plunged -7.9%, its worst month since May 2010.

Philippe Ferreira, a senior strategist at Lyxor AM, commented, "January ended on a brighter note than it started. Recently, there have been signs that the oil s......................

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