Ucits hedge funds ended the third quarter with a progression of 1.09 per cent in light of the strong rebound of the equity market, according to the Ucits Alternative Index Quarterly Industry Report.
The best performing index for the period is the Emerging Markets Index followed by the Event Driven Index with respectively 3.43 per cent and 3.11 per cent.
The worst performing indices are commodities and equity market neutral which fell 1.51 per cent and 0.48 per cent respectively.
On a year to date basis, the Fixed Income Index is still the best performing one with 3.75 per cent followed by the Event Driven Index with 3.47 per cent. The Commodities Index is showing the worst performance with a fall of 6.76 per cent.
The number of Ucits hedge funds continued to grow during Q3 2010 reaching 525 single manager funds and 50 funds of hedge funds. This represents an increase of 9.38 per cent and 19.04 per cent respectively for the last quarter and 55.79 per cent and 127.27 per cent on a year to date basis.
The third quarter saw an increase of asset under management of EUR1.9bn for single manager funds and EUR452m for funds of hedge funds or respectively 2.23 per cent and 19.36 per cent in percentage terms for the quarter and 41.75 per cent and 110.7 per cent for the year.
At the end of Q3 2010, the three largest strategies in terms of AUM remain unchanged. Fixed income funds represent 29.06 per cent of the total funds managed in Ucits hedge funds. They are followed by macro and long/short funds representing 24.59 per cent and 19.59 per cent respectively.