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Eurekahedge Index Flash - May 2010

Hedge funds outperformed global markets by 1.4% on average. Japanese hedge funds delivered their best April year-to-date returns since 2004. Asia ex-japan and European managers also closed the month with gains of 0.9% and 0.8%, respectively.

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69 views3 pages

Eurekahedge Index Flash - May 2010

Hedge funds outperformed global markets by 1.4% on average. Japanese hedge funds delivered their best April year-to-date returns since 2004. Asia ex-japan and European managers also closed the month with gains of 0.9% and 0.8%, respectively.

Uploaded by

Eurekahedge
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Index Flash

Hedge funds up 1.23% in April

May 2010

Hedge funds significantly outperformed global markets in April, posting


positive returns across all regions and strategies. The Eurekahedge
Hedge Fund Index advanced 1.23%1 as managers skilfully manoeuvred
through the volatility. Most market indices ended the month on negative
ground, with the MSCI World Index down 0.16% in April.

• Hedge funds outperformed global markets by 1.4% on average.

• Start-up activity geared up with nearly 120 fund launches in the


first quarter.

• Japanese hedge funds delivered their best April year-to-date


returns since 2004.

• Arbitrage hedge funds witnessed 17 months of consecutive


positive returns, gaining 29.4% over this period.

Main Indices

Apr 2010 2010 YTD 2009


Index
Est1 Returns Returns
Eurekahedge Hedge Fund Index 1.23 3.33 19.77
Eurekahedge Fund of Funds Index 0.82 2.13 9.70
Eurekahedge Long-Only Absolute
1.04 6.62 46.75
Return Fund Index
Eurekahedge Islamic Fund Index 0.64 3.86 21.57

Regional Indices

April was a month of strong performance as hedge funds across all


regions outperformed their respective underlying markets. Early reports
showed that Japanese managers posted the best results, gaining 2.52%
on average and beating the Nikkei by 2.81%. Although Japan-focused
hedge funds did not perform so well in the last two years, they have
started 2010 positively, delivering excellent returns in the first quarter.
The Eurekahedge Japan Hedge Fund Index advanced 6.74% year-to-date
April 2010 – currently the strongest year-to-date returns across all major
regional indices.

North American managers were also up significantly, gaining 1.73% on


average during the month and beating the S&P 500 by nearly 0.2%.
Positive corporate earnings helped the US market close April on a net

1
Index Flash

Hedge funds up 1.23% in April

gain; however, the month witnessed considerable volatility due to a spike


in risk-aversion mid-month. Asia ex-Japan and European managers also
closed the month with gains of 0.9% and 0.8%, respectively, while major
markets in both regions registered losses. The FTSE was down 2.2%, the
DAX and CAC lost 0.3% and 3.95%, respectively, while the Shanghai
Composite declined by 7.69% during the month.

Apr 2010 2010 YTD 2009


Index
Est1 Returns Returns
Eurekahedge North American Hedge
1.73 4.63 23.63
Fund Index
Eurekahedge European Hedge Fund
0.80 4.42 21.35
Index
Eurekahedge Eastern Europe & Russia
0.76 10.96 61.88
Hedge Fund Index
Eurekahedge Japan Hedge Fund
2.52 6.74 6.94
Index
Eurekahedge Emerging Markets
0.91 3.18 34.92
Hedge Fund Index
Eurekahedge Asia ex-Japan Hedge
0.90 1.76 37.69
Fund Index
Eurekahedge Latin American Hedge
0.00 1.16 27.30
Fund Index

Strategy Indices

All strategies delivered positive returns for April, with distressed debt
managers once again standing out with the strongest performance. The
Eurekahedge Distressed Debt Hedge Fund Index rose 2.20% in April,
making it the 13th consecutive month of positive returns, with the index
gaining 50.51% since March 2009.

Relative value funds were up significantly, gaining 2.12% in April, while


arbitrage and fixed income managers also delivered solid returns of
1.30% and 1.21%, respectively. The bond sector saw significant
movement amid a rise in risk-aversion despite strong corporate earnings
reports. Long exposures to safe haven assets such as US Treasuries were
profitable as concerns over the eurozone debt crisis continued.
Long/short equity managers and event driven managers were also up in
April as the managers benefited from positive data from the corporate
sector.

Apr 2010 2010 YTD 2009


Index
Est1 Returns Returns
Eurekahedge Arbitrage Hedge Fund
1.30 3.87 23.70
Index
Eurekahedge CTA/Managed Futures
1.13 0.87 2.8
Hedge Fund Index
Eurekahedge Distressed Debt Hedge
2.20 8.52 34.81
Fund Index
Eurekahedge Event Driven Hedge
1.61 5.96 39.3
Fund Index
Eurekahedge Fixed Income Hedge
1.21 4.35 22.40
Fund Index
Eurekahedge Long/Short Equities
1.28 3.65 23.71
Hedge Fund Index
Eurekahedge Macro Hedge Fund
0.85 1.79 12.83
Index

2
Index Flash

Hedge funds up 1.23% in April

Eurekahedge Multi-Strategy Hedge


0.89 3.00 21.08
Fund Index
Eurekahedge Relative Value Hedge
2.12 5.17 21.16
Fund Index

Eurekahedge indices are available for download from


www.eurekahedge.com/indices/hedgefundindices.asp and are updated
with the latest fund returns at 23:30 GMT every day. Index values and
data can be downloaded for free and subscribers can download the full
list of index constituents. Please contact indices@eurekahedge.com for
more information.

For the full suite of Eurekahedge indices, please visit


www.eurekahedge.com/indices/hedgefundindices.asp.

For the latest ongoing promotions offered by Eurekahedge and our


marketing partners, please visit our promotions page,
www.eurekahedge.com/promotions.

Regards,

Eurekahedge
www.eurekahedge.com
+65 6212 0925

1
Based on 38.56% of the funds reporting their April 2010 returns as at 11 May 2010.

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Copyright © 2005-2010 Eurekahedge Pte Ltd. All right reserved. www.eurekahedge.com

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