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Alternative Market Briefing

Preqin All-Strategies Hedge Funds benchmark suffered significant loss of -2.21% in February

Tuesday, March 17, 2020

Laxman Pai, Opalesque Asia:

The global outbreak of COVID-19 and falling oil prices hit hedge funds hard in February, said Preqin.

The Preqin All-Strategies Hedge Funds benchmark suffered significant losses (-2.21%) in February, compared to January's modest gains (+0.62%), caused by the global outbreak of COVID-19 and falling oil prices.

Funds of all top-level strategies and currencies, and of all sizes, generated negative returns; CTAs were least affected, returning -0.27%.

UCITS and alternative mutual funds suffered the most, returning -2.61% and -3.46% respectively.

All top-level strategies struggled to navigate difficult markets in February; macro strategies returned the highest at -0.18%.

This dropped the YTD and 12-month return to +0.10% and +7.60% respectively. In contrast, event-driven (-3.03%) and equity (-3.16%) strategies suffered the most significant losses.

All top-level currencies tracked by Preqin made losses in February.

Hedge funds denominated in EUR fared the best (-1.87%) and GBP-denominated funds the worst (-3.90%). On a 12-month basis, BRL-denominated hedge funds are the best performing currency (+9.65%) followed by USD-denominated hedge funds (+4.09%).

Small hedge funds returned -1.87% in February, compared to emerging hedge funds' return of -2.57%. This dropped their 12-month returns to +5.71% and +3.57% respectively.

Despite this, emerging hedge funds are still outdoing medium-sized hedge funds, which have a 12-month retu......................

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