Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information.
Thursday, 8 December 2016
Last updated 1 hour ago
May 4 2009 | 9:08am ET
By Ankur Samtaney, Eurekahedge Analyst -- The Eurekahedge North American Multi-Strategy Hedge Fund Index returned 1.4% in March.
Managers made strong gains from long exposure to the underlying equity markets, which rose 8.5% on the back of renewed risk appetites. Short positions, however, proved loss-making. Some gains were also realized from bets against the U.S. dollar, which depreciated against most major currencies (down 4.6% against the Euro, for instance) during the month, partly owing to quantitative easing in the U.S.
In the commodity markets, positions in crude oil and energy translated into gains; however, the downturn in gold prices (due to increased risk appetites), resulted in some losses for managers betting in favor of the precious metal.
Event driven managers in the region ended the month up an impressive 4% on average, with most gains coming from the equity markets, amid the sharp upturn. Furthermore, select special situation trades translated into strong returns for some managers, thereby positively skewing the index; acquiring preferred stock of Citigroup, as it announced a balance sheet restructuring plan to improve its capital position, is a case in point.
Download: The Eurekahedge North American Hedge Fund League Tables (PDF)