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Komfie Manalo, Opalesque Asia: Hedge funds fell in February as the global financial market posted steep declines and US interest rates increased, data tracker Hedge Fund Research said. The HFRX Absolute Return declined -0.35% during the month (+0.45% YTD) and the HFRX Equal Weighted Index also dropped -2.42% (-0.04% YTD).
On a positive note, the HFRX Relative Value Arbitrage Index gained +0.23% last month from advances in global credit and convertible strategies. The HFRX RV: Multi-Strategy Index was up +0.40% for the period from exposure to global credit managers and MBS strategies. The HFRX Convertible Arbitrage Index rose +0.43% as yields rose in the US and declined in Europe while volatility significantly increased.
HFR stated, "Equity markets fell broadly, with sector declined led by biotech, energy and healthcare, while regional declines were led by China, Japan, Germany and Spain. US interest rates increased led by rising longer dated bond yields as inflation pressures continued to develop and high yield credit widened."
It added that energy and metals commodities posted steep losses led by oil, natural, silver and aluminum. The US dollar was mixed gaining against the euro, British pound and Swiss franc, though declining against the Japanese Yen; bitcoin partially recovered from a steep intra-month sell off though declined for the month, while litecoin ga...................... To view our full article Click here
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