Alternative UCITS continued on their path of steady gains in Septmeber, with the LuxHedge Global Index advancing 0.27 per cent during the month to take its YTD return to 1.60 per cent.
The heterogeneity of different funds in the universe remains very large with a largest fund return at +9.25 per cent and a worst return of -7.20 per cent last month. Roughly two-thirds of Alternative UCITS funds posted positive results in September.
Performance was led by Equity Hedge funds with the LuxHedge Equity Long/Short Europe UCITS index gaining 1.12 per cent (+3.12 per cent YTD) and the LuxHedge Equity Long/Short Global Index advancing 0.66 per cent (YTD +4.49 per cent). In line with the trend that started beginning of the year, Equity Long/Short funds focused on Asia have outperformed all other alternative strategies: +1.71 per cent in September, bringing YTD gains for the Index to 20.22 per cent. After a very good first and second quarter, Event Driven & Merger Arbitrage funds are flat since a few months, with September performance coming in at -0.03 per cent, +4.19 per cent YTD.
After rebounding in August, CTA strategies struggled again in September with the LuxHedge CTA & Managed Futures UCITS index losing 1.25 per cent (YTD -3.41 per cent). Also here there’s a large dispersion between funds, ranging from -4.81 per cent to +3.06 per cent. Discretionary macro funds performed considerably better last month with the LuxHedge Global Macro UCITS Index gaining 0.55 per cent.
In line with results of previous months, Fixed Income Arbitrage and Multi Strategy funds continued to perform relatively flat in September: Fixed Income Arbitrage UCITS +0.26 per cent (+1.60 per cent YTD) and Multi Strategy UCITS +0.19 per cent (+0.69 per cent YTD).
