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Laxman Pai, Opalesque Asia:

The Hennessee Hedge Fund Index gained +3.75% for the month of January 2019, said monthly hedge fund review from Hennessee group.

The top three strategies for the month were Latin America (+10.13%), Asia Pacific (+9.45%) and Healthcare and Biotech (+7.88%). While, the bottom three strategies for the month were High Yield (+0.55%), Macro (+0.56%) and Opportunistic (+0.59%). For the year, Latin America (+10.13%) leads all strategies while High Yield (+0.55%) brings up the rear.

The better performing sectors were Industrials (+11.36%), Energy (+11.02%) and Consumer Discretionary (+10.23%).

The underperforming sectors were Utilities (+3.37%), Healthcare (+4.66%) and Consumer Staples (+4.99%).

For the month, global equities showed a positive trend across different regions. The MSCI ACWI Index increased +7.80% (+7.80% YTD) and the MSCI EAFE Index increased +6.57% (+6.57% YTD). The MSCI Emerging Market Index increased +8.71% for the month (+8.71% YTD), while hedge fund managers outperformed the index,.

The Barclays Aggregate Bond Index increased +1.06% for the month (1.06% YTD) as interest rates decreased for the month. The Merrill Lynch High Yield Master II Index decreased -18.01% for the month, and high yield spreads decreased 96 basis points to end the month 437 basis points over treasuries.

Fixed income managers were positive for the month with the 10-Year U.S. Treasury ending the month at +2.63%, down 6 basis point from +2.69% in......................

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