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Hedge funds gain across strategies in December, outperform MSCI to close at record index level in 2016

Tuesday, January 10, 2017

Komfie Manalo, Opalesque Asia:

Hedge funds posted gains across all strategies in December to conclude 2016, with the HFRI Fund Weighted Composite Index (FWC) rising to a record index value level as oil prices surged, equities gained and U.S. interest rates increased into year end, according to data compiled by Hedge Fund Research.

The HFRI FWC advanced 1.1% last month, bringing the annual return to 5.6% and the Index Value to 12,966, surpassing the prior record from May 2015 and the highest value since inception in January 1990; the HFRI Asset Weighted Composite also gained 1.1% in December. In a year dominated by the dual political financial market dislocations of Brexit and the U.S. presidential election, the HFRI FWC gain topped the gain of global equities, as represented by the MSCI World Index.

"Like U.S. equities, the HFRI reached a record high in December, benefitting from post-election optimism, surging commodities and despite increases in U.S. fixed income yields. This record level of HFRI performance also coincides with record hedge fund assets reached in 3Q16," stated Kenneth J. Heinz, president of HFR.

Equity and credit-sensitive event driven strategies, including M&A, special situations and distressed led industry performance for December and 2016. The HFRI Event Driven (Total) Index gained 1.5% in the month and 10.2% for the year, the strongest an......................

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