The performance of every hedge fund strategy and sub-strategy was in positive territory last week (12-19 March), with Special Situation and Global Macro strategies outperforming, up +0.8 per cent, according to the latest Weekly Brief from Lyxor’s Cross Asset Research team.
On a month-to-date basis, only L/S Equity Market Neutral strategies are in negative territory (-0.1 per cent), while CTAs and discretionary Macro strategies outperformed. L/S Credit strategies also managed to perform reasonably well recently.
In terms of positioning, CTAs and Global Macro strategies have further increased their equity positions, from very low levels at the end of January. CTAs also added to their short positions on the EUR/USD, which may prove supportive as growth conditions in the EMU have further weakened according to recent business surveys (preliminary March manufacturing PMIs).
