LuxHedge: Global UCITS Index Down 0.85% in September

Oct 6 2015 | 7:51pm ET

UCITS-compliant hedge funds largely echoed their less-liquid brethren during September’s market volatility, according to new data from LuxHedge. 

The LuxHedge Global UCITS Index fell by 0.85% in September, its second consecutive monthly decline and enough to erase most of the measure’s year-to-date gains. However, there were bright spots.

Long/Short Equity market neutral managers performed solidly during the month. Indeed, the LuxHedge Equity Market Neutral UCITS Index was flat (+0.12%) despite a very turbulent market environment. As seen in other broad strategy metrics, CTAs/Managed Futures UCITS funds have also done well, with the LuxHedge CTA/Managed Futures index booking a gain of +0.45%. 

Commodity markets once again hit managers hard, pulling the LuxHedge Commodity Arbitrage UCITS Index down -0.78% for September. Illustrating the one-way nature of the commodities market recently, it was the measure’s twelfth consecutive month of declines. 

The performance decline was mostly responsible for the reduced amount of assets under management in the space, noted LuxHedge. AUM fell from €383 billion to €381 billion, although the number of alternative UCITS funds grew from 1,282 in August to 1,300 today.

Indeed, September was particularly active in terms of new fund launches, with 25 new sub-funds coming out of the gate versus only seven liquidations. Interestingly given the posture of central banks around the developed world, most of the new alternative UCITS launched at the moment focus on fixed income arbitrage strategies.

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