Wed, Aug 10, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Eurekahedge Hedge Fund Index up 3.25% YTD

Thursday, November 19, 2020
Opalesque Industry Update - Global hedge funds were down 0.05% in October, outperforming the global equity market by 2.24% for the second consecutive month.

In year-to-date terms, the Eurekahedge Hedge Fund Index was up 3.25%, compared to -3.29% of the MSCI ACWI, with around 70% of the constituents of global hedge funds outperforming the global equity market in 2020.

Assets under management for the global hedge funds industry have rebounded, increasing by US$97.7 billion over the seven months ending October 2020. This has come from performance-driven gains of US$127.7 billion partially offset by net investor outflows of US$15.0 billion. This marks a sharp recovery following a US$264.1 billion asset decline in Q1 2020.

The Eurekahedge North American Hedge Fund Index was up 0.34% in October, outperforming the S&P 500 and NASDAQ by 3.10% and 2.63% respectively.

In terms of year-to-date returns, North American hedge funds were up 4.39%, outperforming their European counterparts who were down 2.29% over the first 10 months of the year.

The Eurekahedge Greater China Hedge Fund Index was up 1.69% in October, supported by the positive performance of the Hang Seng Index and CSI 300 which gained 2.76% and 2.35% respectively. On a year-to-date basis, the Greater China mandates are up 21.28%, outperforming their Asian peers who generated 7.54% over the first 10 months of the year.

Eurekahedge Long Short Equities Hedge Fund Index up 0.08% in October

The Eurekahedge Long Short Equities Hedge Fund Index was up 0.08% in October, outperforming the MSCI ACWI which was down 2.29%.

Supported by the strong performance of the equity market since end-March, long/short equities hedge funds were up 4.79%, with more than 30% of its constituents having generated a double-digit return over the first 10 months of 2020.

The Eurekahedge Emerging Market Long Short Equities Hedge Fund Index was up 0.57% during the month, supported by the positive performance of the developing equity market as represented by the 1.14% return of the MSCI Emerging Market IMI.

In terms of year-to-date returns, the emerging market long/short equities funds were up 8.78%, outperforming their developed market counterparts in North America and Europe who returned 6.28% and -2.08% respectively as of October 2020.

Hedge fund managers utilising arbitrage strategies up 0.67% in October

Hedge fund managers utilising arbitrage strategies were up 0.67% in October, outperforming most of their major strategic peers over the month, with macro and multi-strategy hedge funds down 0.83% and 0.42% respectively.

On a year-to-date basis, arbitrage focused hedge funds also consistently outperformed their peers as they gained 6.66%, compared to 3.67% and 0.68% of macro and multi-strategy hedge funds over the first 10 months of 2020.

Hedge funds utilising structured credit strategies were up 0.70% during the month, recording their seventh consecutive month of positive returns, which accumulated to 18.18% since end-March as captured by the Eurekahedge Structured Credit Hedge Fund Index.

In terms of year-to-date returns, structured credit hedge funds were down 7.83% as of October 2020, underperforming their fixed income and distressed debt peers who returned 0.80% and -0.95% respectively.

Fund managers focusing on cryptocurrencies were up 14.88% in October as tracked by the Eurekahedge Crypto-Currency Hedge Fund Index, underperforming the performance of Bitcoin which was up 26.10%.

Looking at year-to-date return, cryptocurrencies hedge funds are up 89.25%, slightly ahead compared to the 87.19% return of Bitcoin over the first 10 months of 2020.

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. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: https://bit.ly/DXCInfo Castle Hall, the Du