Hedge funds positive in 2009
Hedge funds have recorded positive returns in 2009, with Australian hedge funds posting results of 0.14 per cent since the start of the year, according to data released by Eurekahedge.
However, the gains appear to be precarious, with Eurekahedge recording a drop of 0.5 per cent in February after a rise of 0.64 per cent in January.
Managed futures have continued to perform well, with a return of 2.97 per cent for 2009. Event-driven strategies and multi-strategy have also recorded positive returns for the year, with returns of 0.44 per cent and 0.32 per cent respectively. Only long-short equity went negative in 2009, with a drop to minus 0.4 per cent.
Global hedge fund redemptions slowed in February, with a drop to $11 billion from $30 billion in January, according to data received from 41 per cent of reporting funds.
Hedge fund returns were minus 20 per cent in 2008 in Australia and New Zealand.
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Clime Investment Management has welcomed an independent director to its board, which follows a series of recent appointments at the company.
Ethical investment manager Australian Ethical has cited the ongoing challenging market environment for its modest decrease in assets over the latest quarter.
Commentators have said Australian fund managers are less knowledgeable compared with overseas peers when it comes to expanding their range with ETFs and underestimating the competition from passive strategies.
VanEck is to list two ETFs on the ASX next week, one investing in residential mortgage-backed securities and the other in Indian companies.
