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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge funds less volatile than S&P 500 while posting comparable gains over the long term: hedge fund news, week 08

Saturday, February 23, 2019

In the week ending February 22nd 2019, a report said hedge funds have a lower volatility than the S&P 500 PR Index: 5.59% compared to 13.60%. Over the longer term, hedge funds have posted returns comparable with the S&P 500. The negative returns for the hedge fund industry as a whole in 2018 have masked an improvement in the overall environment for the asset class: while equity strategies funds did experience losses for the year, macro, credit and relative value strategies all made gains, albeit small gains.

Emerging Markets hedge funds, including China, Latin America and Russia-focused funds, surged to begin 2019, with the "risk on" sentiment representing a sharp contrast from late 2018 and reversing steep losses from 4Q. According to the newly released HFR Asian Hedge Fund Industry Report, the HFRI Emerging Markets (Total) Index advanced +4.7% in January, the strongest monthly gain since March 2016 and hedge funds started 2019 positively, with the Preqin All-Strategies Hedge Fund benchmark generating its highest return since September 2010 (+3.82%).

The Eurekahedge Hedge Fund Index was up 2.32% in January, as the risk-on sentiment returned to the market, propelling the MSCI AC World Index (Local) up 7.36% during January. However, managed futures stumbled out of the gate to start 2019, with the Barclay CTA Index, compiled by BarclayHedge, down 0.43% for the month; CTAs have......................

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