Posts Tagged ‘ Eurekahedge ’
This May Not Be the Apocalypse After All
Aug 9th, 2020 | Filed under: Hedge Fund Industry Trends, Financial Economics Theory, Newly Added, The Global Economy & Currencies, Hedge Funds, Macroeconomics, Finance & EconomicsFrom the point of view of the alternative investment world, the dramas associated with the year 2020 may not constitute as apocalyptic a challenge or as paradigmatic a shift as is commonly thought. It may even be considered, in many respects, business as usual (aside from an occasional “murder hornet.”)Read More
Time-varying Equity Volatility Markedly Affects Hedge Fund Performance
May 19th, 2020 | Filed under: Performance, Analytics & Metrics, Hedge Fund Strategies, Newly Added, Risk management, Benchmarking & Performance Attribution, Risk Management Strategies & Processes, Hedge Funds, Structure of the Hedge Funds IndustryBy Masao Matsuda, CAIA, FRM, Founder, Crossgates Investment and Risk Management One would think hedge funds can weather market gyrations better than long-only equity investments as hedge funds have greater flexibility in determining the levels of market exposure. However, while some individual hedge funds may have been successful in adverse marketRead More
The Perils of Late-Cycle Investing
Feb 11th, 2020 | Filed under: Hedge Fund Industry Trends, Private Equity, Debt Types of Private Equity, Newly Added, Equity Types of Private Equity, Credit Derivatives, Other Issues in Private Investments, Alternative Investments in Context, The A.I. Industry, Structured Credit Products, Hedge Funds, Private Investments, Structured ProductsIt is widely believed that much of the world is now experiencing the late stages of a bull market. There will be a downturn because no tree grows to the sky. Forecasting the nature and severity of the coming downturn is tricky, but perhaps that is not the right question.Read More
Europe’s Hedge Fund Numbers Growing Again
Jan 2nd, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge FundsEurekahedge’s latest monthly report includes a special section on the key trends in European hedge funds. It tells us that the total number of European hedge funds grew in 2019, after a decline in each of the four years before (2015 – 2018). In other words, although in recent yearsRead More
Hedge Fund Flows Fall Flat in October
Nov 24th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge FundsThe Eurekahedge Hedge Fund Index was up 0.31% in October. However, it doesn’t measure up to the market next to the MSCI ACWI (Local), which ended October up 1.93%. Eurekahedge’s latest monthly report observes that US-China trade talks resumed, and this led to a certain tentative optimism. Since those areRead More
Global Hedge Fund Assets Shrink
Oct 20th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryAccording to the latest report from Eurekahedge, the world’s hedge funds recorded a net growth of $3.4 billion due to performance in September 2019. On the other hand, September also saw large net outflows of $6.2 billion. Assets at the end of the month were down 0.12%. Looking at fundsRead More
Eurekahedge: The Return of Alpha
Sep 29th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities, Structure of the Hedge Funds IndustryThe Eurekahedge Hedge Fund Index was up in August, 0.17%, easily outperforming the global equity market, as measured by MSCI ACWI, which was down 2.37%. The August number brings the Eurekahedge HFI’s year-to-date result to 6.58%. Approximately 32.6% of the funds Eurekahedge tracks are in double-digits (positive) territory for theRead More
Hedge Fund Performance Gains: Investor Flow Losses
Aug 25th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryGlobal hedge fund assets under management have stayed close to flat for months now. That’s one of the points made in the latest Eurekahedge report. As of July, the AUM is just a little under $2.3 trillion, or roughly where it has been since late last year. Although there haveRead More
Hedge Fund Performance and Fees: Who is Earning Their Keep?
Jul 30th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Fees, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds IndustryThe Eurekahedge Hedge Fund Index was up in June, wrapping up a very strong first half of the year for the hedge fund industry. The monthly increase of 1.83% reverses the down month of May, which in turn was a reversal of the strength of the first four months, withRead More
Hedge Fund Index Backslides in May; Remains in Positive Territory
Jun 25th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Hedge Funds, Relative Value Hedge Funds, CommoditiesRed ink spoiled an otherwise positive 2019 for he Eurekahedge Hedge Fund Index. The decline of 0.71% leaves the year-to-date performance still well up, at +4.32%. Approximately 41.6% of the funds Eurekahedge tracks were in the black for the month. And 15% have generated double-digit gains year-to-date. North America-mandated hedgeRead More
Hedge Funds Performing Well Year-to-Date, But Trade Issues Loom Large
Jun 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds, Relative Value Hedge FundsThe Eurekahedge Hedge Fund Index continues to reflect strong performance for the year. First quarter 2019 was one of the strongest quarterly returns since the global financial crisis, and each of its three months was positive. April was another up month, +1.06%, which brings us to +5.15% YTD. Hedge fundsRead More
Hedge Funds: The Strongest Quarterly Return Since the GFC
May 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsMarch was a good month and the first quarter of 2019 was promising, according to the April report from Eurekahedge. The Eureka Hedge Fund Index gained 1.06% in March. This yields a first quarter return of 4.36%. As the report says, this is the strongest quarterly return since the globalRead More
Eurekahedge: Light at the End of Trade-War Tunnel?
Mar 25th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Hedge FundsDuring the Vietnam War era, the metaphor of “light at the end of a tunnel” expressed American optimism under stress, The image was supposed to convey the idea that the US and its local allies could eventually attain a favorable peace in that country if only they persevered—that the lightRead More
Hedge Funds Stronger in January, Thanks to The Fed
Mar 3rd, 2019 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsRisk-on sentiment returned in January, with good news on trade talks and with the Federal Reserve in the United States putting some distance between itself and its 2018 hard-money stance (the Fed started saying in January that it would be “patient” about selling off-balance sheet assets). Globally, hedge funds grewRead More
Eurekahedge: The Grinch Stole December’s Returns
Jan 22nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Industry Size & Managers, Equity Hedge Funds, Newly Added, Asset Managers, Indexes, The A.I. Industry, Hedge FundsThe Eurekahedge Hedge Fund Index was down for the month of December 1.31%, and that this brought the total decline of 2018 down to 3.85%, according to the January 2019 report. Part of the reason for the bad December numbers was a broad concern about the yield-curve inversion in USRead More
Eurekahedge: A Rough Time for the European Mandate Funds
Dec 25th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsEuropean hedge fund managers continue to suffer from the uncertainties of the United Kingdom’s impending exit from the EU. The latest report from Eurekahedge says that European hedge funds have posted losses in eight of the first eleven months of 2018. They haven’t been in the positive numbers since July,Read More
Eurekahedge: Hedge Funds Failing to Perform in 2018
Nov 25th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.The newest Eurekahedge report says that hedge funds globally are experiencing their worst year since 2008. They are down -2.15% for 2018 to date and in the first 10 months of 2008 they were down a full 9.55%. Other Year-to-Date Numbers Only a minority (roughly 47%) of hedge fund managersRead More
Eurekahedge: Hedge Funds Trailing Behind Last Year’s Performance
Aug 19th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsAccording to Eurekahedge, with the July numbers on hedge fund performance now available, 8.5% of hedge fund managers have posted double-digit gains in 2018 to date. Most of that gain is focused on those with a long/short equities mandate. That number is quite low. Eurekahedge contrasts it with the firstRead More
Eurekahedge: 2018 YTD Growth Positive but Unimpressive
Jun 24th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge FundsThe newest Eurekahedge report says that total hedge fund assets have grown by $26.4 billion in the year to date (through May). The gain is the result of inflow, not of positive performance. Assets flowing in to the industry’s coffers YTD equal $30 billion, and one gets the net growthRead More
Eurekahedge on Japan as an Investment Mandate
May 24th, 2018 | Filed under: Newly Added, Institutional Investing, The Global Economy & Currencies, Institutional Asset Management, Macroeconomics, Allocating to A.I.Eurekahedge has recently concluded its fifth annual survey of asset managers with mandates to invest in Japan. In the words of Eurekahedge chairman and CEO, Satoshi Iwanaga: “Survey results for 2018 suggest that central bank normalization is still a long way off in Japan, with investors continuing to reduce theirRead More
China-US Trade War and Other Worries
Apr 29th, 2018 | Filed under: Industry Size & Managers, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge FundsThe Eurekahedge April 2018 report says that hedge funds were down in the first quarter of the year (-0.13%). This is the industry’s worst performance since Q1 2016. The steepest performance-based losses by regional mandate were those of the North American funds, they lost $1.2 billion. Meanwhile, asset inflows remainedRead More
Eurekahedge: Exodus from the Event-Driven Funds YTD
Oct 23rd, 2016 | Filed under: Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Hedge Funds, Relative Value Hedge Funds, Commodities, Allocating to A.I.The event-driven hedge fund space is the most troubled in a generally troubled time for the industry. According to the new Eurekahedge report, the event-driven strategy “has seen US$14 billion investor redemptions over the past nine months,” and $10.7 billion over just the past six months. The first nine monthsRead More
Eurekahedge on Outflows, Performance and Tail Risk
Sep 27th, 2016 | Filed under: CTA, Equity Hedge Funds, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, CommoditiesEurekahedge, a provider of hedge fund industry news since 2001, has released its report about the state of the industry in August 2016. Among the key points: August was the fourth consecutive month of outflows. Although preliminary, the data for the month suggests a net asset outflow of $7.5 billion.Read More
March Improved, but 2016 Still Rains Red for Hedge Funds
Apr 24th, 2016 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Hedge Funds, Allocating to A.I.The latest report from Eurekahedge indicates that hedge funds worldwide gained in March, though by far less than the underlying markets gained during the same period. Specifically, the Eurekahedge Hedge Fund Index gained 1.33 percent over the month, while the MSCI World Index, representing those underlying markets, gained 5.47 percent.Read More
Eurekahedge: From Latin America to Middle Earth
Mar 20th, 2016 | Filed under: Performance, Analytics & Metrics, CTA, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.The latest report from Eurekahedge tells us that hedge funds worldwide are down year-to-date through February, -1.27 percent. Dividing the industry by geographic mandates, Latin America is the only region to post YTD gains, +1.9% due to a rally in oil and commodities. Table 1, adapted from the report below,Read More
Eurekahedge: Performance after the ECB Underwhelms
Jan 28th, 2016 | Filed under: Performance, Analytics & Metrics, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Macro and Managed Futures Funds, Hedge FundsThe latest Eurekahedge report says that regional mandates for the month of December 2015 produced quite mixed results. Asia ex-Japan managers yielded the best results, gains of 1.45%. Their Japanese counterparts produced 0.27%. In annual terms, Asia ex-Japan funds delivered 8.23% in 2015. Such funds saw an annual AUM growthRead More
Eurekahedge: All Regional Mandates Up for November
Dec 23rd, 2015 | Filed under: Performance, Analytics & Metrics, Newly Added, Benchmarking & Performance Attribution, Event-Driven Hedge Funds, Hedge Funds, Allocating to A.I.Faille takes a quick trip around the world with the assistance of Eurekahedge's numbers and graphs showing performance in November 2015 and year to date.Read More
Hedge Funds in a Time of Weakening Recovery
Oct 27th, 2015 | Filed under: The Global Economy & Currencies, Alternative Investments in Context, Finance & EconomicsThough the recovery is showing signs of its age and weakness, this is still not the day for which tail-risk funds were designed, the moment of 'extreme distress' and victorious black swans. Thank heavens for that fact, and thank Eurekahedge for the news. Read More
Blame China; Blame the US Fed, whatever … August Hedge Fund Numbers Stunk
Sep 21st, 2015 | Filed under: The Global Economy & Currencies, Structure of the Hedge Funds IndustryEurekahedge's latest round-up of hedge fund results by strategy and region makes quantitative what you, dear reader, probably knew: August was bad. The report also includes some discussion of HK/Shanghai arbitrage. Read More
Eurekahedge: The Markets are Reading the Headlines
Aug 18th, 2015 | Filed under: Commodities, Hedge Fund Strategies, Currencies, CTA, Alpha Strategies, Alpha SeekersIn the three month period that ends with July, Eurekahedge’s Greater China Index (which has 85 constituents) is down 9.39%. That has come about for precisely the reasons that a reader of the pertinent headlines would guess. Read More
Headline Factors and Hedge Fund Success
Jun 23rd, 2015 | Filed under: Performance, Analytics & Metrics, Indexes, MacroeconomicsEuropean mandated hedge funds, benefitting from improved expectations regarding that region, are up 5.54% year to date, says Eurekahedge. Wait: improved expectations? Yes, notwithstanding continued Greek drama. Read More
A New Index: The Eurekahedge 50
Jun 1st, 2015 | Filed under: Portable Alpha & Alpha/Beta Separation, Alternative Beta & Hedge Fund Replication, Indexes, Liquid AltsIt appears likely that the new index, the Eurekahedge 50, as well as the daily tracker index that has been built around it, will have aspirational significance. It is designed to set a bar that will be very difficult for other alpha seekers to clear, yet easy for replicators to follow. Read More
Low Energy Prices: Crude and Refined Consequences
Jan 21st, 2015 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Currencies, IndexesEurekahedge tells us that hedge funds were in the black 4.57% in 2014. That's hardly cause for celebration, since the MSCI World Index returned 6.79% over the same year. But all eyes now turn to the still-sliding price of oil. Read More