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Alternative Market Briefing

Asia ex-Japan hedge funds already up 12% in Q1

Monday, April 08, 2019

Laxman Pai, Opalesque Asia:

Asia ex-Japan hedge funds posted strong gains for both March and in the first quarter, performance data released Friday by Hedge Fund Research showed.

Asia ex-Japan Index added +4.3% in March and +12.0% for Q1 2019, the report said.

Aggregate hedge fund returns, led by Macro and CTA strategies, were strongly positive in the first quarter, in sharp contrast to the previous quarter, revealed the report.

The HFRI Fund Weighted Composite Index gained +1.0% for the month, bringing the 1Q19 performance to +5.9%. Risk Parity strategies surged in 1Q19 with the HFR Risk Parity Vol 15 Index advancing +14.9%, the strongest quarter since index inception.

Macro strategies led hedge fund performance in March as US interest rates fell, driving the HFRI Macro (Total) Index return to +2.1% for the month and bringing 1Q19 performance to +2.9%.

Systematic Diversified/CTA Index surges +3.6% for 1Q

Macro sub-strategies were led by the quantitative, trend-following HFRI Macro: Systematic Diversified/CTA Index, which surged +3.6% for 1Q, the strongest monthly gain in 14 months.

CTA gains were concentrated in fixed income exposures, as the US Federal Reserve indicated slowing of interest rate increases and interest rates fell throughout the month.

Similarly, trend-following risk premia strategies also advanced in March, as the HFR Bank Systematic Risk Premia (BSRP) Trend Following Index jumped +5.94%. The HFRI Macro: Multi......................

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