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Alternative Market Briefing

Global hedge funds end 2016 on a positive note on strong financial markets

Friday, January 06, 2017

Komfie Manalo, Opalesque Asia:

Hedge funds posted gains for December with the HFRX Market Directional Index rising +1.73% for the month, +9.9% for the year, and the HFRX Global Hedge Fund Index gaining +0.86% for the month (+2.50% YTD).

In its monthly report, Hedge Fund Research said that the global financial markets posted gains in December to conclude a strong month, quarter and calendar year, with gains across global equities, the U.S. dollar and energy commodities driven by investor optimism for US growth in early 2017.

"Led by energy and oil services, U.S. equities reached record highs intra-month December and ended 2016 near record highs, though European equities led gains for December, led by Italy, France, Germany, Russia and Spain. U.S. yields rose, extending gains from the prior month, though longer dated maturities posted only modest increases as the yield curve flattened; European yields also rose," and added, "The U.S. dollar extended gains against the euro, Japanese yen and British pound sterling (GBP), ending 2016 with gains of over 20% against both the GBP and Mexican peso, respectively. Energy commodities surged to conclude 2016 led by oil and natural gas; in agricultural commodities lean hogs gained nearly 30% for the month while metals commodities declined for the month."

The HFRX Event Driven Index posted a gain of +1.92% for December and +11.1% for the ......................

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