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Digital Subscriptions > The Hedge Fund Journal > Issue 108 - October 2015 > The month’s key industry stories

The month’s key industry stories

Eurekahedge: 4th month of losses for HFs

Hedge funds posted their fourth consecutive month of losses with Eurekahedge Hedge Fund Index down 0.54% in September while the MSCI World Index lost 3.60% during the month. On a year-to-date basis, hedge funds are up 0.67% and have outperformed underlying markets by 6.01%, as represented by the MSCI World Index.

Soft PMI data from China and the Fed’s vacillation over its long over-due rate hike added to the risk-off sentiment in the market with global equity markets continuing their slide. Weaknesses in emerging markets along with a looming commodity induced deflationary environment will continue to be a source of worry for developed market central banks which have limited room to manoeuvre given the low interest rate environment.

Key takeaways for the month of September 2015:

• On a year-to-date basis, hedge funds are up 0.67%, which compares with a gain of 3.85% seen over the same period last year. 42% of the hedge funds reporting to Eurekahedge have posted negative year-to-date returns, almost 13% higher compared to the same period last year.

• Among developed market investment mandates, Japanese and European managers lead with year-to-date gains of 3.19% and 3.14% respectively, while North American hedge funds are down 1.21%.

• The CBOE Eurekahedge Relative Value Volatility Hedge Fund Index was the best performing strategic mandate in September 2015 and on a year-to-date basis, up 2.19% and 5.00% respectively.

• Greater China investing hedge funds were up 1.29% in September and have preserved their gains from early-2015 with gains of 4.44% year-to-date, outperforming the CSI 300 Index by almost 14%.

• Distressed debt hedge fund strategies posted their fifth consecutive month of negative returns, down 1.59% in September. On a year-to-date basis, distressed debt funds have posted the worst return among all hedge fund strategic mandates, down 3.94% and are on track to post their worst performance since 2008 amid concerns over the prospects of high yield debt.

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About The Hedge Fund Journal

INFORMING THE HEDGE FUND COMMUNITY With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry. Highlights of Issue 108: BlueCrest - Equity strategy excels in 2015 Volatility & Uncertainty to Define 2016 - Major challenges facing market participants On Origins of Alpha - Is the stock market a quasi Ponzi scheme? InfraHedge - The largest MAP-infrastructure provider