Sat, Dec 3, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Risk-on sentiment boosts hedge funds

Tuesday, September 19, 2017

Komfie Manalo, Opalesque Asia:

Risk-on sentiment bolstered hedge funds last week, with all strategies ending on the positive side, Lyxor Asset Management said in its Weekly Briefing. The Lyxor Hedge Fund Index was up +0.5% from 05 September to 12 (+0.8% YTD).

"Global macro managers benefitted from rising bond yields in the UK and Canada due to their fixed income short positions. Long exposure on European equity indices paid off. CTAs delivered solid returns due to long positions on DM equities. Yet, fixed income and commodity buckets were a drag to performance," Philippe Ferreira, Lyxor AM's senior strategist said.

Event driven and L/S equity also delivered strong gains. Special situations thrived from their holdings on Baxter and DowDuPont. Variable bias L/S equity managers outperformed in Europe, he added.

Gilt wobbles fuel global macro strategies

The report said that mounting signals that the latest leg of the bond market rally has started to reverse fueled hedge fund strategies last week. Most recent inflation numbers outpaced expectations both in the U.S. and the U.K., as consumer prices rose +1.9% and +2.9% year-over-year in August, respectively.

Sovereign bond yields rose in developed markets, in particular in the U.K, and yield curves steepened somewhat. Meanwhile, equity markets extended their winning streak both in developed and emerging markets.

Ferreira explained that such developme......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Marks delves into what really matters[more]

    B. G., Opalesque Geneva: Howard Marks, co-founder and co-chairman of Oaktree Capital Management, weighs what should and should not matter for investors in his latest memo last week. Among the things t

  2. Legal: British fund manager Jeremy Leach and his firms settle fraud litigation for $11.5m, DOL slams lawsuit seeking to overturn crypto guidance[more]

    British fund manager Jeremy Leach and his firms settle fraud litigation for $11.5m From Offshore Alert: Four days before a trial was due to start in the Cayman Islands, British fund manager Jeremy Leach and eight of his firms settled a fraud complaint by agreeing to pay $11.5 million o

  3. Family offices upbeat on private assets, reduce public assets exposure[more]

    Laxman Pai, Opalesque Asia: Family offices are investing more in private assets and cutting back on investments in public markets, with higher risk-adjusted returns cited as the main driver, said a study. According to the survey findings by German digital private equity firm Moonfare, and the

  4. Opalesque Exclusive: A Swiss managed futures strategy that can offer diversification to any portfolio[more]

    B. G., Opalesque Geneva for New Managers: TARO (R) Diversified is a Swiss algorithmic and systematic investment strategy that offers diversification benefits to almost any professionally managed portfolio through it

  5. Alts manager Medalist Partners acquires a minority stake in Semper Capital to tap opportunities in structured credit[more]

    Laxman Pai, Opalesque Asia: Medalist Partners, which specializes in private credit, has acquired a minority stake in Semper Capital to extend its offerings to the mass market. Medalist currently manages approximately $2.2 billion in assets across strategies in asset-based private credit, struc