The SS&C GlobeOp Forward Redemption Indicator for January 2020 measured 2.26 per cent, down from 4.95 per cent in December.
Société Générale’s CTA indices advanced between 2.5 and 3.5 per cent in the first three weeks of January, as managed futures strategies locked on to early-year trends in equity markets, currencies, and commodities.
Now entering its sixth year of operation, ProMeritum Investment Management – a London-based discretionary emerging markets fixed income-focused manager – has notched up five successive years of positive returns since launching in January 2015.
The Saemor Europe Alpha Fund, Saemor Capital’s long-running market neutral hedge fund strategy, shed 1.9 per cent last month – its third successive monthly loss – rounding off a disappointing spell for the Netherlands-based manager which saw the fund down almost 10 per cent for the year.
The Eurekahedge Hedge Fund Index returned 8.74 per cent in 2019, supported by the risk-on sentiment among investors and positive geopolitical developments throughout the year.
After a one-month reprieve, the hedge fund industry returned to net outflows in November with USD4.7 billion in redemptions, a reversal from October’s USD1.9 billion in industry inflows.
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for December 2019 measured 1.65 per cent.
Hedge funds finished 2019 on a high note in December, posting an industry-wide 1.73 per cent return for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
H2O Asset Management, Bruno Crastes’ bond-focused discretionary macro hedge fund, which this year marks its tenth anniversary, has posted sterling year-end gains after facing investor pressure this past summer.
The recent underperformance of momentum stocks suggests the prevailing trends of recent years are drawing to a close - potentially making alpha generation increasingly challenging for hedge funds, according to Man Group analysts.