•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

The Lyxor Hedge Fund Index headed north in the first week of September as the index recorded strong gains with global macro and event-driven funds leading the performers. The former thrived from the outperformance of EMU (European Economic and Monetary Union) stocks and the rebound in commodity prices.

Event-driven funds were up +0.7% (+6.4% YTD) thanks to special situations, which benefitted from their positions on Baxter and Tiffany's. Merger funds added to the gains as the deal spread between Alere/Abbott Laboratories tightened. Positions on the transaction between Rockwell Collins and United Technologies paid off.

"Special situations outperformed, followed by CTAs due to rates and equities and global macro due to commodities and equities," commented Jean-Baptiste Berthon, senior strategist at Lyxor Asset Management. "Stronger economic prints and cautious monetary normalizations are prolonging the goldilocks for U.S. equities and for dollar assets including EM markets and cyclical commodities. Gold was up on receding inflation prospects, unlike govies yields which are still under pressure."

He added that the European Central Bank (ECB), which suggested tapering announcements at its October meeting, did not put an end to the EUR rise. WTI Oil rebounded on supply issues as Harvey caused multiple refineries disruptions.

Also, CTAs extended their winning streak thanks to their l......................

To view our full article Click here