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Komfie Manalo, Opalesque Asia:

Hedge funds were off to a good start in January and posted gains with the HFRX Market Directional Index rising +1.09% and the HFRX Global Hedge Fund Index gaining +0.50% for the month, data provider Hedge Fund Research said in its monthly report.

The HFRX Event Driven Index rose +1.05% in the first month of 2017 from gains in special situations equity and distressed/restructuring managers. The HFRX Special Situations Index posted gain of +1.33% from core positioning in Actelion, Yahoo, Alibaba, ClubCorp, NXP Semiconductors and Reynolds American.

The report said, "Global financial markets posted mixed performance in January to begin 2017, as Donald Trump became the US President. US equities gained led by technology, biotechnology, healthcare and commodity sensitive sectors, while European and Asian equities were mixed with gains in China, Russian offset by narrow declines in Italy and France, U.S. yield were little changed over the prior month, while European yields rose modestly."

It added that the U.S. dollar declined against most currencies, posting the steepest declines against the Australian dollar, Swiss France, euro and Japanese yen. Metals commodities posted sharp gains led by gold, platinum and silver; energy commodities fell led by natural gas, while agricultural commodities gained led by coffee.

Distressed strategy also ......................

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