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Alternative Market Briefing

Greenwich: Hedge funds cement longest winning streak in history with gains in December

Friday, February 02, 2018

Komfie Manalo, Opalesque Asia:

Hedge funds cemented their longest winning streak in 22 years after posting 14 months of continued positive gains in December, data tracker Greenwich Alternative Investment said. The Greenwich Global Hedge Fund Index was up +1.14% in December (+8.58% YTD).

In comparison, the S&P 500 Total Return Index posted a +1.11% gain in December and was positive every month last year. The FTSE 100 roared back from its November loss to gain +5.03% in December. Bonds recovered as well, with the Barclays Aggregate Bond Index posting a +0.46% return.

"Market and economic sentiment were bolstered by an unexpectedly strong US jobs number. Tax reform gained significant ground in Congress on its way to being signed into law the following month. Most traditional benchmarks ended 2017 on a high note," Greenwich said in its latest report.

Almost all strategies were positive in December

According to Greenwich, almost every Greenwich Global Index was positive in December. Only fixed income arbitrage was down, albeit by only one basis point. The Distressed Securities Index led all global indices during the month and was up +2.23%.

As expected, long-biased equity-based strategies were the top performers for the year. Growth funds took the crown with a +17.34% return, followed by the Value Index at +15.52% and the Opportunistic Index at +12.90%. The Other Arbitrage Index rode a ve......................

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