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Alternative Market Briefing

Hedge funds post modest gains in mid-March as global financial markets rally

Monday, March 21, 2016

Komfie Manalo, Opalesque Asia:

Hedge funds posted modest gains in mid-March as the HFRX Global Hedge Fund Index gained +0.66% (-2.32% YTD) and the HFRX Market Direction Index rose +2.41% (-6.91%). In its report, Hedge Fund Research said that the global financial markets gained through mid-March with oil and equities continuing to recover from steep early year declines on improving investor confidence as the U.S. Fed reduced expectations for near term interest rate increases.

HFR said, "Equity market gains were led energy, financials and emerging markets, with top regional contributions from China, Russia, Brazil and Italy. Oil and natural gas surged to lead commodity gains, while coffee and lumber and also posted agricultural commodity gains. U.S. treasury yields rise as the yield curve flattened, led by relative increases in shorter dated yields; high yield credit also posted strong gains. Currencies gained against the U.S. dollar, led by gains in the Brazilian real, Russian rouble and euro."

HFRX Equity Hedge Index posted a gain of +1.78% reversing prior months declines as equity markets experienced a global rebound. The HFRX Fundamental Value Index gained +2.15% with gains in exposure to large-cap Financial, Basic Materials and Communications sectors. The HFRX Fundamental Growth Index gained +1.55% with contributions from sm......................

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