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Alternative Market Briefing

Hedge funds in 11 months winning streak, up 0.5% in September (+5.70% YTD)

Monday, October 09, 2017

Komfie Manalo, Opalesque Asia:

Hedge funds are on a winning streak as the industry extended its positive gain with 11 months of consecutive returns. The HFRI Fund Weighted Composite Index (FWC) advanced +0.5% for September (+5.70% YTD), led by gains in equity hedge and event-driven strategies.

"Hedge fund gains have continued throughout the year though the drivers of performance have often shifted from month to month, with healthcare, energy and activist strategies leading in September. Realized volatility remained muted and equities gained, with asset-specific volatility concentrated in the currency and commodity markets, specifically US dollar/British pound sterling and oil," stated Kenneth J. Heinz, president of Hedge Fund Research (HFR).

The HFRI FWC's gain in September is the 11th consecutive monthly of positive returns and the 18th in the last 19 months. This is also the first time that the HFRI FWC has been positive in each of the first nine months of a calendar year since 2003, when the HFRI was positive in all 12 months. The gain also extends the record Index Value to 13,687, the tenth consecutive record.

Heinz added, "While expectations for successful tax reform legislation have contributed to recent optimism, many managers are positioning for a continuum of scenarios related to this, which is likely to drive strong industry performance and growth into 2018."

Risk p......................

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