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Alternative Market Briefing

Hedge Funds slid 0.28% in November, however seven strategy indices still positive

Wednesday, December 19, 2018

Laxman Pai, Opalesque Asia:

Hedge Funds slid 0.28% in November according to the Barclay Hedge Fund Index compiled by BarclayHedge versus a 2.04% increase in the S&P 500 Total Return Index.

Year to date, the Barclay Hedge Fund Index is down 2.42%, while the S&P has gained 5.11%, pointed out BarclayHedge, now a division of Backstop Solutions.

"Global equity markets had mixed returns in November as European markets fell while the US and Asia rose," says Sol Waksman, founder and president of BarclayHedge.

"An 18.4 percent drop in the price of Apple along with declines in Facebook and Netflix-stocks that are widely held by hedge funds-created additional losses for technology funds."

Overall, 14 of Barclay's 17 hedge fund indices had losses in November, while three had gains.

Distressed Securities lost 2.04% in November, Equity Market Neutral gave up 1.63%, the Global Macro Index dropped 1.60%, Multi-Strategy was down 1.17%, and the Healthcare & Biotechnology Index lost 1.14%.

On the positive side, Emerging Markets gained 1.84%, the Merger Arbitrage Index was up 1.41%, and the Event Driven Index gained 0.72%.

"A decline in US interest rates coupled with a weakening of the US dollar was a net positive for emerging markets whose debt is dollar denominated," says Waksman.

At the end of November, 10 hedge fund indices now have negative returns for the year, while seven still have gains.

Emerging Markets have lost 9.33%, Pacific Rim Equities are do......................

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