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November is another good month for UCITS absolute return funds. As measured by the UCITS Alternative Index Global their monthly progression equals to 0.49% and to 3.71% since the beginning of the year. With the exception of the UAI FX all UAI strategy benchmarks progress this month. The best performing strategy are CTA, Multi-Strategy and Long/Short Equity respectively up 1.44%, 0.97% and 0.85%. The UAI Long/Short Equity is the best performing strategy in 2013 with a progression of 9.87%. It is followed by the UAI Multi-Strategy and the UAI Event Driven up 4.71% and 3.61%. On the negative side the UAI Volatility and UAI Commodities are the worst performing strategy benchmarks with -3.76% and -3.62%. Benefiting from the favorable market conditions UCITS funds of absolute return funds continue to deliver healthy performances in November ( 0.41%) and are now up 3.80% since the beginning of the year.

UAIX Indices

Most UAIX indices advance this month. The best performing one is the UAIX CTA (up 2.17%) followed by the UAIX Multi-Strategy (up 0.87%) and the UAIX Event-Driven (up 0.70%). The two Fixed Income UAIX indices and the UAIX FX are the only benchmarks displaying negative results for the month with -0.34% for the UAIX Fixed Income Global, -0.18% for the UAIX Fixed Income Developed Market and -0.10% for the UAIX FX. Since the beginning of the year, the best performing strategy index is the UAIX Long/Short Equity up 12.27%. It is followed by the UAIX Event-Driven up 6.78% and the UAIX Multi-Strategy up 4.35%.

UAI Blue Chip

The UAI Blue Chip progresses by 0.57% in November and is now up 3.45% for 2013. The UAI Blue Chip is still lagging the broad market as measured by the UAI Global or the UAI Fund of Funds. This relative underperformance is due to the diversified nature of the UAI Blue Chip and more particularly to the low exposure to good performing strategies such as Long/Short Equity.

AUM and number of funds

The total assets managed in UCITS absolute return fund progresses in November and passes for the first time the EUR 180 billion mark (EUR 180'008 million). Funds of Funds assets also increase during the month and now reach EUR 4.55 billion. As a consequence of their recent bad performances Commodities, FX and Volatility funds are losing assets on average while the other strategies are all increasing their assets under management. Since the beginning of the year the total assets managed in UCITS absolute return funds progressed by 30%.

UCITS Alternative Index

Press Release

BM