UCITS Alternative Index Dips 0.08% as Commodities Rally

Apr 27 2016 | 7:28pm ET

The UCITS Alternative Index Blue Chip, which tracks the performance of the largest and most representative absolute return UCITS funds, slipped marginally in the past week, according to the latest data from Switzerland-based index provider Hedgeanalytics.

The index fell 0.08% for the period through April 27, although it remains up 0.06% for the month to date. The index remains in the red for 2016, down 0.14%, although this is a far cry from the 0.88% it was down for the year at this time in March. 

Six of the index family’s twelve substrategies were positive in the period, led by a 0.83% gains in the UAIX Commodities Index, a welcome change of page for a segment that has been under almost unrelenting pressure for the better part of two years. Elsewhere of note, the UAIX Fixed Income Developed Markets gained 0.51%, the UAIX Event-Driven Index gained 0.16%, and the UAIX Emerging Markets Index gained 0.19%. 

On the down side, the CTA segment continues to struggle this year. Following a gain of more than 19% in 2015, the UAIX CTA Index dropped -2.41% during the period, wiping out its YTD gain and putting it down -2.50% so far this year. The UAIX Multi-Strategy Index fell 0.69%, as did the UAIX Long/Short Index.

The UAIX indices for Macro and Volatility were essentially flat, while the UAIX FX index fell 0.12%.

For the year to date, seven of the twelve indices are in the red, led by a steep -4.43% drop in the Long/Short index and followed closely by a -3.78% decline in the beleaguered Event-Driven index. Gainers are led by the UAIX Volatility Index, up 2.36%.

The UCITS Alternative Index series benchmarks the UCITS absolute return funds universe, tracking the performance of both global and strategy specific UCITS absolute return funds.

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