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Eurekahedge Index Flash - May 2011

Eurekahedge Index Flash - May 2011

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Published by Eurekahedge
Hedge funds up by 1.73%; positive returns for 10 consecutive months
Hedge funds up by 1.73%; positive returns for 10 consecutive months

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Published by: Eurekahedge on May 11, 2011
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06/08/2011

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Index Flash
Hedge funds up by 1.73%; positive returns for 10 consecutivemonths
1
 
 Hedge funds were up 1.73% in April making it ten consecutive months of positive returns for the industry. Managers handled the mid-monthvolatility skillfully to post strong returns for the month. Trend-followingstrategies were the most successful as the markets' movements werepositive at the start of the month and ended with a sharp upturn. TheMSCI AC World Index was up 1.84%
1
 during the month.Highlights for April:
 
Hedge funds up for the 10th consecutive month, gaining 1.73%in April and 2.99% YTD
 
Early reporting funds indicate strong inflows for April reachingalmost $10bn.
 
Net flows in the first four months now exceed total net flows forwhole of 2010 ($73.2bn April 2011 YTD vs. $66bn in 2010).
 
CTA/managed futures funds gain 3.73% in April, AUM reachesnew record high of $213.6 billion.
 
Large hedge funds outperforming smaller hedge funds in 2011.
The 2011 Asian Hedge Fund Awards programme is now live!
 The awards programme for the 2011 Eurekahedge Asian Hedge FundAwards can now befound online on the award's web page.With only a week and a half left until the 2011 Eurekahedge Asian HedgeFund Awards at the Fairmont Singapore on 20th May, tables are in shortsupply! 300 of the industry's top players are expected to attend and 14awards will be presented, making this an event not to be missed — willYOU be there?Tables are going fast! For more details on table reservations, pleasecontact our awards team on +65 6212 0925 or atawards@eurekahedge.com.
Main Indices
 
Table 1: Main Indices
Index Apr 2011
 
Est
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 2011Returns 2010Returns Eurekahedge Hedge Fund Index 1.73 2.99 10.88Eurekahedge Fund of Funds Index 1.30 1.81 4.47Eurekahedge Long-Only AbsoluteReturn Fund Index2.09 1.86 15.02
 
Index Flash
Hedge funds up by 1.73%; positive returns for 10 consecutivemonths
2
 
Eurekahedge Islamic Fund Index 1.62 2.38 9.53
Regional Indices
 Most regions delivered positive performance during the month, with theexception of Japan hedge funds. Asia ex-Japan managers led the waywith returns of 1.63%, an outperformance to underlying markets. Majormarket indices such as the SSE Composite, ASX and the Sensex finishedthe month in negative territory; -0.57%, -0.30% and -1.59%respectively. Gains were posted through SEA exposure and strongcorporate activity in the region — the MSCI South East Asia Index was up4.27% in April.North American and European hedge funds also witnessed healthyreturns, gaining 1.50% and 0.97% in April. The month started off withpositive movements in the markets, however the trend reversed mid-month after the announcement of S&P’s revised outlook on US sovereigndebt. Markets rebounded on the back of strong corporate earningsannouncements and expectations of continued low interest rate in the USas well as the successful placement of European government bonds —the S&P500 was up 2.61% in April while the MSCI Europe Index gained2.64%.
Table 2: Regional Indices
Index Apr 2011
 
Est
2
 2011Returns 2010Returns Eurekahedge North American HedgeFund Index1.50 4.22 13.80Eurekahedge European Hedge FundIndex0.97 2.51 9.18Eurekahedge Eastern Europe & RussiaHedge Fund Index0.78 6.54 16.68Eurekahedge Japan Hedge FundIndex-1.230.24 8.28Eurekahedge Emerging MarketsHedge Fund Index1.39 2.43 10.69Eurekahedge Asia ex-Japan HedgeFund Index1.63 1.23 10.66Eurekahedge Latin American HedgeFund Index1.04 2.72 9.73
 All strategies delivered positive returns in April, led by CTA/managedfutures funds — up 3.73% during the month. Trend following strategieswere successful during the month, generating excellent returns forseveral managers. Crude oil prices touched a 31 month high and gained7% in April, while gold and silver prices reached new record highs duringthe month. Hedge funds operating with a macro mandate also registeredstrong gains of 1.68% during the month as managers were able tocapture most of the gains on offer across the different asset classes.Distressed debt funds continued their winning streak into yet anothermonth bringing their year-to-date April returns to 5.44% — the best

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