UCITS funds enjoyed a solid Q3, helped in part by global equity markets rebounding, according to the latest quarterly industry report compiled by UCITS Alternative
UCITS funds enjoyed a solid Q3, helped in part by global equity markets rebounding, according to the latest quarterly industry report compiled by UCITS Alternative Index, an index provided by Swiss-based NARA Capital. Globally, UCITS funds gained +1.09 per cent, with Emerging Markets and Event-Driven strategies recording the highest gains: +3.43 per cent and +3.11 per cent respectively, putting them at +1.21 per cent and +3.47 per cent for the year. The Global Index stands at +0.28 per cent YTD. Overall, the best performing strategy for 2010 continues to be Fixed Income: up +3.75 per cent. Those strategies that failed to deliver in Q3 include Equity Market Neutral, down -0.48 per cent and Commodities, down -1.51 per cent. This puts the Commodities Index in the precarious position of being down -6.76 per cent YTD, having suffered losses in four of the last five months. The quarterly report found that UCITS hedge fund numbers sustained growth in Q3, ending with 525 single manager funds and 50 multimanager funds: this represents a q-o-q increase of 9 per cent and 19 per cent respectively. AUM in single manager UCITS increased by EUR1.9 billion, up +2.2 per cent q-o-q and 41 per cent y-o-y. As for the most popular strategies in AUM terms, Fixed Income remains number one, accounting for 29 per cent of total UCITS. Whilst in pure numbers of funds, the most popular strategy is Equity L/S, making up a quarter of all UCITS. Emerging Market funds were the biggest gainers in Q3, the number of constituent funds rising by 20 per cent.