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Komfie Manalo, Opalesque Asia:

Hedge funds edged higher from 05 December to 12 December as CTAs and global macro strategies outperformed and the remaining hedge fund strategies were flat. The CTA Broad Index jumped 1.4% during the period (+2.4% YTD). Across the industry, the Lyxor Hedge Fund Index rose 0.3% (+ 3.4% YTD).

In its weekly briefing, Lyxor Asset Management said that CTAs were fueled by their long equity and energy positions while global macro funds benefitted from the stronger USD.

Lyxor AM Senior Strategist Philippe Ferreira commented, "CTAs benefitted the most from this macro environment in which activity is strong but inflation remains below expectations. Their long equities/ long fixed income stance largely benefitted from such developments. The Lyxor CTA broad index was up and the strategy is the only strategy in the black on a month to date basis (+0.6%)."

He added that all CTA funds but one, in a sample of 23 funds, were in positive territory during the weekly period under review. The outperformer was up in excess of +4.5% while the underperformer was down -1%.

Global macro funds also performed positively last week (+0.5%) as the USD edged higher. The U.S. currency appreciated as the Fed hiked rates for the third time in 2017 and the reconciled version of the tax bill is likely to be voted by both chambers this week. The remaining strategies were flat, though market neutral L/S and special si......................

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