Thu, Jun 4, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index gaining +0.62% through mid-February, +0.38% YTD

Thursday, February 20, 2014
Opalesque Industry Update - Hedge funds posted gains with the HFRX Global Hedge Fund Index gaining +0.62% through mid-month, while the HFRX Market Directional Index gained +1.45%.

HFRX Equity Hedge Index posted a gain of +1.56% through mid-February 2014, the best gains since January '13, with contributions from Fundamental and Market Neutral managers. HFRX Fundamental Growth Index rose +2.04%, with gains concentrated in Global Healthcare and European mid- and small-cap equity. HFRX Fundamental Value Index gained +1.44% with performance in Financials, Consumer and European large-cap equity. The HFRX Market Neutral Index gained +0.61%, with gains across mean reverting, factor-based models as volatility declined and dispersion narrowed.

HFRX Event Driven Index posted a gain of +1.21% through mid-February, with contributions from Equity Special Situations and Distressed/Restructuring strategies. HFRX Special Situations Index gained +1.54% through mid-month with contributions from exposure to Energy and Industrials and Financial sectors, with core positioning in Cole REIT, Time Warner, Sensient Technologies, Apple, Herbalife and American Airlines. HFRX Distressed Index posted a gain of +0.41% through mid-month, with contributions from restructurings across Communications, Financials and Technology sectors in the US and Europe. HFRX Merger Arbitrage Index was narrowly changed through mid-month, with mixed contributions from transactions in Suntory/Beam, CapitalSource/PacWest Bancorp, Avago Technologies/LSI and Tower Financial/Old National Bancorp.

HFRX Relative Value Arbitrage Index posted a gain of +0.57% through mid-February with contributions across Convertible Arbitrage and Multi-Strategy managers as credit tightening offset rising yields. HFRX Convertible Arbitrage Index gained +0.64%, as credit gains offset volatility declines, while HFRX RV: Multi-Strategy Index and HFRX Fixed Income Credit Index posted gains of +0.55% and +0.54%, respectively. HFRX MLP Index gained +1.84% on strong demand for energy infrastructure partnerships, leading all Indices with a +3.45% YTD gain.

HFRX Macro Index posted a decline of -1.31% through mid-February, with weakness in trend-following CTA and Discretionary Macro partially offset by gains in Emerging Markets exposure. HFRX Macro: Systematic Diversified Index declined -2.02% with weakness across currency, commodity equity and fixed income exposures, while the HFRX Emerging Markets Index posted a gain of +0.09% with contributions from Asian convertible strategies, paring prior month losses.

Global financial markets posted gains through mid-February, as corporate earnings results continued to be favorable and the transition in US Federal Reserve leadership proceeded without significant modifications to existing policies. Global equity markets posted gains through mid-February, recovering early month losses and paring losses for FY 2014, with US leadership from Technology, Commodity-sensitive, Cyclicals and Healthcare sectors. European and Asian equities also posted gains through mid-month, with leadership from France, Germany, Italy and Switzerland, while Asian equities were led by China, Australia and Thailand. US yields rose as the curve steepened, with increases concentrated in longer dated maturities; European yields were little changed through mid-month as high yield credit tightened and overall asset volatility fell, despite an early month increase. The US dollar fell against the British Pound Sterling, Swiss Franc and Euro, while also declining against Emerging and Commodity currencies including Canadian Dollar, Australian Dollar, South African Rand and New Zealand Dollar. Commodities posted gains across Metals, Energy and Agriculturals, led by Oil, Natural Gas, Gold, Silver, Coffee and Soybeans.

Comments reference performance as published through February 14, 2014.

press release

www.hedgefundresearch.com/hfrx

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Millennium hedge fund ups bet against Bank of Ireland, Value rotation was the last thing big funds thought would happen, Al Gore's firm sold Amazon and Microsoft stock. Here's what it bought.[more]

    Millennium hedge fund ups bet against Bank of Ireland From Independent: US hedge fund Millennium International Management has raised its bet against Bank of Ireland's shares. It comes as Davy says 2020 will be a write-off for banks, with losses across Irish lenders of €4bn. M

  2. PE/VC: Private equity in the Covid-19 crisis, Carlyle's Africa dealmakers leave to start their own buyout firm, UK asset managers plan shift to off-market strategies including private equity[more]

    Private equity in the Covid-19 crisis From Morning Star: Private equity investment trusts invest in unquoted companies not yet listed on the stock market. How have they fared in the sell-off? Investment trusts have been caught up in the market turmoil of recent months and private equit

  3. New Launches: Apeira Capital seeks $200m for hedge fund-like bets, PIMCO filing reveals ESG fund launch could be ahead, BEA Systems co-founder launches venture fund, Salesforce Ventures launches $125m Europe Trailblazer Fund, The D. E. Shaw group closes first onshore China investment fund, Legg Mason and ClearBridge launch non-transparent ETF, Hong Kong-based asset manager MaiCapital launches actively managed bitcoin hedge fund[more]

    Apeira Capital seeks $200m for hedge fund-like bets From Bloomberg: Natalie Hwang, the former head of Simon Property Group Inc.'s venture capital arm, has launched a new firm and is seeking $200 million for a debut fund. Hwang has been discussing the vehicle with prospective investors, ac

  4. New Launches: Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt, Amundi unveils eight new funds as part of ESG ETF range push, Mezzanine Management gears up for direct lending fund[more]

    Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt From Reuters: Hedge fund Angelo Gordon & Co aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter and an investor presentation viewed by R

  5. Tech: Robos fail their first big test, 'Video is fine': Venture capitalists find the benefits in digital due diligence[more]

    Robos fail their first big test From Advisor Perspectives: Robo-advisors faced their first big challenge with the bear market in the first quarter of 2020. They lost, and that is an ominous sign for the future of automated advice. All robos employ a degree of active management. They