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Komfie Manalo, Opalesque Asia: Hedge funds were mixed through mid-November with the HFRX Global Hedge Fund Index and the HFRX Absolute Return Index declining -0.55% (+4.68% YTD) and -0.38% (+3.26% YTD), respectively, Hedge Fund Research said in its latest performance update.
During the same period, global financial markets posted declined, with equities modestly paring strong YTD gains in biotechnology, European and small cap exposures. Corporate special situations and M&A activity accelerated, with primary contributions from Amazon, Qualcomm, Nvidia, Twenty-First Century Fox, General Electric and ADP.
"Interest rates declined in both US, Europe and Japan as the US dollar was mixed, gaining against the British pound sterling, Brazilian real and Russian rouble, while falling against the Euro, Swiss franc and Japanese yen. Commodity gains were led by natural gas, oil, platinum, silver and sugar," the report said.
RVAs, equity hedge decline
The decliners during the period include the HFRX Relative Value Arbitrage Index -0.38% from gains of convertible managers which were offset by declines in global credit and yield alternatives energy infrastructure strategies. The HFRX Convertible Arbitrage Index gained +0.22% for the period, as volatility increased and global yields declined. The HFRX RV: Multi-Strategy Index declined -0.42% from exposure to global fi...................... To view our full article Click here
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