The UCITS HFS Index ends its run of four consecutive positive monthly results and starts into the new year with a loss of -0.15% in January 2014. The broad index started positively into the month and reported gains of 0.26% after the first full week of trading. The second week brought additional gains of 0.26%. Things turned around in the second half of the month though: the UCITS HFS Index lost -0.53% and -0.14% in week three and four respectively to see the UCITS HFS Index turn negative for January. Of all funds tracked only 49.76% reported profits in January 2014.
From a sub-strategy perspective only four of the twelve sub-strategies reported positive results in January, the best performing being Market Neutral (0.56%), Fixed Income (0.37%) and Convertible (0.21%). While the latter made profits in the first half of the month and took losses thereafter, the other two strategies only took losses in third week of trading. The three worst performing strategies were CTA (-1.95%), Commodity (-0.81%) and L/S Equity (-0.27%). CTA only returned profits in third week of January, taking heavy losses in the other weeks of the month. L/S Equity on the other hand was positive until the middle of the month, but had to take losses thereafter. Commodity in contrast reported negative results in week one and three which outweighed the gains of the other two weeks by far. After the broad UCITS HFS Index finished last year with a performance of 3.29%, the early year to date performance stands at -0.15% in 2014 so far.
About the UCITS HFS Index
The UCITS HFS Index Series is the first index family that tracks all UCITS funds using hedge fund strategies. The UCITS HFS Index Series includes all UCITS III funds that apply absolute return strategies, have more than 10 Mio. € of assets under management, offer at least weekly liquidity and have reported numbers for more than one month. Index tracking funds, long-only and 130/30 strategies are excluded.