Global Commodity and Systematic Strategies Start 2015 Off Strong While Equities Struggle

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.