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Komfie Manalo, Opalesque Asia: Hedge funds recorded their first perfect calendar year since 2003 after closing 2017 with positive returns in every month. The HFRI Fund Weighted Composite Index climbed +0.9 percent in December, topping the monthly performance of most equity markets, including the Nasdaq, Russell 2000, Nikkei 225, Shanghai Composite and France's CAC 40, data provider Hedge Fund Research said.
The strong performance of the hedge funds space brings 8.5% cumulative gains for 2017, the best the best calendar year performance since 2013, extending the record Index Value to 14,054. Inclusive of gains in late 2016, the HFRI has advanced in 21 of the trailing 22 months, including each of the last 14 months.
"Hedge funds successfully concluded 2017 with positive HFRI performance in every month, extended the record HFRI Index Value and increased the record total industry assets throughout the year, as the US economy accelerated, global equities expanded to record levels, and investor tolerance improved," stated Kenneth J. Heinz, President of HFR.
Event-driven leads HFRI into 2018
HFR added that event-driven and equity hedge funds led industry performance, driven in part by an improving M&A environment in technology, media, healthcare, retail and manufacturing, as well as expectations for now-enacted comprehensive US tax reform.
"The HFRI Event-Driven (Total) Index adva...................... To view our full article Click here
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