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Eurekahedge Index Flash - May 2010

Eurekahedge Index Flash - May 2010

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Published by: Eurekahedge on Feb 08, 2011
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02/08/2011

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Index Flash
Hedge funds up 1.23% in April
1
 
May 2010
 Hedge funds significantly outperformed global markets in April, postingpositive returns across all regions and strategies. The EurekahedgeHedge Fund Index advanced 1.23%
1
as managers skilfully manoeuvredthrough the volatility. Most market indices ended the month on negativeground, 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 thefirst quarter.
 
Japanese hedge funds delivered their best April year-to-datereturns since 2004.
 
Arbitrage hedge funds witnessed 17 months of consecutivepositive returns, gaining 29.4% over this period.
Main Indices
 Index Apr 2010Est
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 2010 YTDReturns 2009Returns Eurekahedge Hedge Fund Index 1.23 3.33 19.77Eurekahedge Fund of Funds Index 0.82 2.13 9.70Eurekahedge Long-Only AbsoluteReturn Fund Index1.04 6.62 46.75Eurekahedge Islamic Fund Index 0.64 3.86 21.57
Regional Indices
 April was a month of strong performance as hedge funds across allregions outperformed their respective underlying markets. Early reportsshowed that Japanese managers posted the best results, gaining 2.52%on average and beating the Nikkei by 2.81%. Although Japan-focusedhedge funds did not perform so well in the last two years, they havestarted 2010 positively, delivering excellent returns in the first quarter.The Eurekahedge Japan Hedge Fund Index advanced 6.74% year-to-dateApril 2010 – currently the strongest year-to-date returns across all majorregional indices.North American managers were also up significantly, gaining 1.73% onaverage 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
 
Index Flash
Hedge funds up 1.23% in April
2
 
gain; however, the month witnessed considerable volatility due to a spikein risk-aversion mid-month. Asia ex-Japan and European managers alsoclosed the month with gains of 0.9% and 0.8%, respectively, while majormarkets in both regions registered losses. The FTSE was down 2.2%, theDAX and CAC lost 0.3% and 3.95%, respectively, while the ShanghaiComposite declined by 7.69% during the month.Index Apr 2010
 
Est
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 2010 YTDReturns 2009Returns Eurekahedge North American HedgeFund Index1.73 4.63 23.63Eurekahedge European Hedge FundIndex0.80 4.42 21.35Eurekahedge Eastern Europe & RussiaHedge Fund Index0.76 10.96 61.88Eurekahedge Japan Hedge FundIndex2.52 6.74 6.94Eurekahedge Emerging MarketsHedge Fund Index0.91 3.18 34.92Eurekahedge Asia ex-Japan HedgeFund Index0.90 1.76 37.69Eurekahedge Latin American HedgeFund Index0.00 1.16 27.30
Strategy Indices
 All strategies delivered positive returns for April, with distressed debtmanagers once again standing out with the strongest performance. TheEurekahedge Distressed Debt Hedge Fund Index rose 2.20% in April,making it the 13th consecutive month of positive returns, with the indexgaining 50.51% since March 2009.Relative value funds were up significantly, gaining 2.12% in April, whilearbitrage and fixed income managers also delivered solid returns of 1.30% and 1.21%, respectively. The bond sector saw significantmovement amid a rise in risk-aversion despite strong corporate earningsreports. Long exposures to safe haven assets such as US Treasuries wereprofitable as concerns over the eurozone debt crisis continued.Long/short equity managers and event driven managers were also up inApril as the managers benefited from positive data from the corporatesector.Index Apr 2010Est
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 2010 YTDReturns 2009Returns Eurekahedge Arbitrage Hedge FundIndex1.30 3.87 23.70Eurekahedge CTA/Managed FuturesHedge Fund Index1.13 0.87 2.8Eurekahedge Distressed Debt HedgeFund Index2.20 8.52 34.81Eurekahedge Event Driven HedgeFund Index1.61 5.96 39.3Eurekahedge Fixed Income HedgeFund Index1.21 4.35 22.40Eurekahedge Long/Short EquitiesHedge Fund Index1.28 3.65 23.71Eurekahedge Macro Hedge FundIndex0.85 1.79 12.83

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