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Matthias Knab, Opalesque:

Emerging Markets hedge funds fell to begin 2022, led by a steep decline in the HFRI EM: Russia/Eastern Europe Index, as Russia invaded Ukraine, oil prices spiked, severe sanctions were imposed on Russia, the Russian Rouble collapsed, the Russian stock market remained closed and the risk of default on Russian bonds soared. In addition to these geopolitical risks, global inflationary pressures increased to generational highs, cryptocurrencies declined, and the spread of coronavirus fell sharply.

The HFRI Emerging Markets (Total) Index declined -4.5 percent through February, with losses driven by the HFRI Emerging Markets: Russia/Eastern Europe Index, which has plunged -36.3 percent over the first two months of the year, as reported today with the releases of the HFR Asian Hedge Fund Industry Report and the HFR Emerging Markets Hedge Fund Industry Report from HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry. The HFRI Emerging Markets: Russia/Eastern Europe Index had led EM performance in 2021 with +20.7 percent gain.

The investable HFRI 500 Fund Weighted Composite Index, which includes funds across all regions in both Emerging and Developed markets, has declined -1.2 percent through February. Total Emerging Markets hedge fund assets edged higher to a record of $276.4 billion to end 2021, representing an increase of $20 billion for the year.

While Russian-focused hedge funds plun......................

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