Global Commodity and Systematic Strategies Start 2015 Off Strong While Equities Struggle
January 27, 2015
By Elana Margulies
Global commodity and systematic strategies have started the first half of January outperforming while long/short equities overall have struggled. According to data provided by HSBC’s Alternative Investment Group, global commodity funds are up on average 2.17% year-to-date (“YTD”) while the global systematic group is up 2.85%.
The Merchant Commodity Fund ranked as the No. 1 ranking global commodity fund, returning 10.40% YTD through 16 January while some of the best performers in the systematic category included Man Group’s AHL Evolution Fund, up 5.65% YTD though 16 January and its AHL Diversified, returning 4.49%. Other top contributors included Conquest Capital Group’s Conquest Macro Fund, up 6.14% through 21 January, ISAM Systematic Management’s ISAM Systematic Fund Class A which posted 10.21% through 16 January, and Welton Investment Partners’ Welton Global Directional Portfolio up 5.57% YTD through 20 January.
Alternatively, several groups of long/short equity-focused funds have started the year off in negative territory. Japanese equities funds were down an average of 2.36% YTD through mid-January while U.S. ones underperformed by 1.48%. In the Japan category, the biggest underperformers included Symphony Financial Partners’ SFP Value Realization Fund, down 3.99% YTD through 16 January and Henderson Global Investors’ AlphaGen Japan Absolute Return Fund, down 2.35% YTD through 9 January.
Meanwhile, of the U.S. long/short equities strategies, a couple of the worst performers included Atlantic Investment Management’s AJR International fund which was down 7.46% YTD through 16 January and Eminence Capital’s Eminence Fund which underperformed 3.30% YTD through 16 January.