CTA/Managed Futures was the only Ucits strategy to deliver positive returns in Q3 wrote Alix Capital this week in its latest report on alternative Ucits, returning +1.60 per cent to investors.
CTA/Managed Futures was the only Ucits strategy to deliver positive returns in Q3 wrote Alix Capital this week in its latest report on alternative Ucits, returning +1.60 per cent to investors. The report found that the largest drawdowns in September were in Commodities (-4.01 per cent) and Emerging Markets (-6.67 per cent) funds: indeed, overall losses in EM funds were an eye-watering -10.15 per cent in Q3. Like their offshore hedge fund equivalents, Q3 2011 was the hardest for alternative Ucits since 2008. During that period the UCITS Alternative Index Global fell -3.04 per cent to leave it down -3.85 per cent for the year, gaining slightly (+0.08 per cent) in July before shedding over -3 per cent in August and September. Fund of Funds outperformed the Global Index by 29 basis points (+0.37 per cent) in July but delivered similar losses in excess of -3 per cent over the last two months to leave them down -4.08 per cent YTD.
The report confirmed that the number of Ucits hedge funds rose from 665 to 705 during Q3, representing a quarter-on-quarter increase of 6 per cent. The number of single managed Ucits has now risen by 21.9 per cent throughout 2011. Fund of Funds grew by 7 per cent to reach 73 in Q3: up 28 per cent for the year. The most popular strategies launched in 2011 are equity l/s and macro, accounting for 29 per cent and 18 per cent of all new funds, with CTA funds making up 12 per cent. Commodities (2 per cent) and Event-Driven have the smallest contribution, adding 20 funds each, equivalent to 2.7 per cent of all funds. A total of 127 funds have been added to the UCITS Alternative Index said the report. Total AUM invested in Ucits funds during Q3 rose by 7 per cent in Q3 to reach EUR121billion. For the year, global assets have grown nearly 32 per cent. Fixed Income remains the strategy with the largest AUM at EUR37.8billion but Multi-Strategy has seen the biggest increase in AUM during the year, climbing 150 per cent to reach EUR14.5billion.
