SS&C GlobeOps hedge fund performance index for February measured 0.37%, compared to January performance of 2.62%. The hedge fund administrators Capital Movement Index showed net flows advance 1.18% in March.
The SS&C GlobeOp Hedge Fund Performance Index is an asset-weighted, independent monthly window on hedge fund performance. On the ninth business day of each month it provides a flash estimate of the gross aggregate performance of funds for which SS&C GlobeOp provides monthly administration services on the GlobeOp platform.
The first quarter ends on a positive note with subscriptions outpacing redemptions two to one, said Bill Stone, chairman and CEO, SS&C Technologies.
The SS&C GlobeOp Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by SS&C GlobeOp on the GlobeOp platform. This monthly net, published on the ninth business day of each month, is divided by the total assets under administration (AuA) for fund administration clients on the GlobeOp platform.
Cumulatively, the SS&C GlobeOp Capital Movement Index for March 2013 stands at 149.61 points, an increase of 1.18 points over February 2013. The Index has advanced 5.02 points over the past 12 months. The next publication date is April 11, 2013. Published on the ninth business day of each month, the SS&C GlobeOp Capital Movement Index presents a timely and accurate view of investments in hedge funds on the GlobeOp administration platform.
Elsewhere, the monthly J.P. Morgan Prime Brokerage Global Hedge Funds Trends report revealed a slight pullback in risk assets during February. All of the major hedge fund strategies posted gains except for Global Macro, which fell -0.67%. The HFRI Global Hedge Fund Index inched up +0.14%, with Relative Value (+0.66%) being the top performer among the key hedge fund strategies for February. The HFRI Equity Hedge Index increased +0.50% and Event Driven rose +0.06%.
As the Dow Jones Industrials and S&P 500 indices approached all-times highs in February, clients were reluctant to add short exposure, said the report. The U.S. Prime Brokerage short book was therefore net covered in February, offsetting Januarys increase in short activity. In Europe, new deal activity was light, with new trading flows stemming primarily from capital raising events. Flows were also light across Asia.
(JDC)