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Eurekahedge Index Flash - January 2010

Eurekahedge Index Flash - January 2010

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Published by: Eurekahedge on Feb 08, 2011
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Index Flash
Hedge funds gain 19% in 2009
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JANUARY 2010
 Hedge funds finished 2009 on a high note with healthy returns of 0.91%through December. The composite Eurekahedge Hedge Fund Indexreturned 19.16%
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for the year – the best performance on record since2003 when the index gained 21%. The positive performance for themonth was delivered amid increased risk appetite, which pushed globalequity markets higher during the month. The MSCI World Index gained1.69% during the month.
 
2009 performance of 19.16% is the best on record since 2003.Asia ex-Japan funds posted gains of 37.98% for 2009 which isthe best yearly performance for all regions on record.
 
December is the 8th consecutive month of positive net inflows tothe industry, bringing the total assets from US$1.29 trillion toUS$1.48 trillion over this period.
 
2009 saw most strategic indices post their strongest yearly gainson record – event driven funds achieved the highest annualreturns on record across all strategic mandates by posting38.02%.
 
Based on the initial data received so far for December, the hedgefund industry grew by US$2 billion through December; the sectoris expected to attract greater allocations through 1Q2010.
Main Indices
 Index Dec-2009Est
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 2009 YTDReturns 2008Returns Eurekahedge Hedge Fund Index 0.91 19.16-11.06Eurekahedge Fund of Funds Index 0.48 9.58-19.77Eurekahedge Long-Only AbsoluteReturn Fund Index3.23 47.15-42.49Eurekahedge Islamic Fund Index 0.81 22.15-28.48
Regional Indices
 December was a favourable month for the global hedge fund sector,spreading the holiday cheer across the board as all regional mandatesposted healthy returns. Asia ex-Japan managers outperformed theircounterparts in other regions while also standing out annually. TheEurekahedge Asia ex-Japan Hedge Fund Index gained 2.16% in
 
Index Flash
Hedge funds gain 19% in 2009
2
 
December, closing the year at 37.98% - the best annual performance onrecord across all regional indices in ten years. North American andEuropean managers also posted the best yearly results of their respectiveindices as managers across the globe capitalised on the sustained ralliesseen across most asset classes throughout the year.The biggest gainers for December, Asia ex-Japan managers, were buoyedby strong growth figures from China which helped to drive positivemarket sentiments. North American managers also posted strong returnsthrough December, gaining 1.81% on average through bets in the high-yield space and the equity markets – the S&P500 was up 1.9%. Japanesehedge funds also saw their first positive month since August as the Nikkeigained 12.8%.Index Dec-2009Est
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 2009 YTDReturns 2008Returns Eurekahedge North American HedgeFund Index1.81 23.33-8.95Eurekahedge European Hedge FundIndex1.25 21.79-20.93Eurekahedge Eastern Europe & RussiaHedge Fund Index0.89 59.96-54.54Eurekahedge Japan Hedge FundIndex1.76 6.80-10.22Eurekahedge Emerging MarketsHedge Fund Index1.76 34.42-23.17Eurekahedge Asia ex-Japan Hedge
 
Fund Index2.16 37.98-26.85Eurekahedge Latin American HedgeFund Index1.27 26.32-4.21
Strategy Indices
 Managers of most strategic mandates returned positive for the monthwith distressed debt and relative value hedge funds posting the strongestperformances of 3.24% and 3.02%, respectively, as managers profitedfrom a spike in risk appetite and widening US Treasury yield curve. Eventdriven and long/short equity managers also delivered healthy returns of 2.55% and 2.16%, respectively, amid rallying equity markets.On the yearly measure, all strategies have been positive through 2009and in most cases, the strategic indices have delivered record returns.Initial data shows that distressed debt hedge funds gained 37.15% onaverage while event driven hedge funds are up 38.02% for the year –both these returns beat the previous best yearly returns across allstrategies seen in 2003 when distressed debt managers gained 33.60%.Index Dec-2009Est
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 2009 YTDReturns 2008Returns Eurekahedge Arbitrage Hedge FundIndex1.40 22.45-8.69Eurekahedge CTA/Managed FuturesHedge Fund Index-1.852.27 18.16Eurekahedge Distressed Debt HedgeFund Index3.24 37.15-25.77Eurekahedge Event Driven HedgeFund Index2.55 38.02-18.69Eurekahedge Fixed Income Hedge 0.42 21.40-14.52

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