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Opalesque Industry Update - The UCITS Alternative Index Global is up a healthy 1.18% in October 2013 and reaches 3.20% since the beginning of the year. As for last month, the good performance is explained by the strong results of long/short equity managers up 1.85% on average. However the best performing strategy index in October is the UAI CTA up 2.20%. The UAI Multi-Strategy, UAI Emerging Markets and UAI Macro are also up more than 1%. Commodities and Volatility are the only two strategies displaying negative performance for the month with -0.46% and -0.43%.
Since the beginning of the year the UAI Long/Short Equity returns the best performance with a progression of 8.94%. Coming next are the UAI Multi-Strategy Index and the UAI Event-Driven up respectively 3.71% and 3.44%. On the negative side the UAIX Volatility displays the worst performance for the year with -3.77%.
Funds of funds also enjoy a positive month of October with a progression of 0.86% for the UAI Fund of Funds and bringing its year to date performance to 3.38%.
UAIX Indices
With the exception of three, all UAIX indices return positive performance in October. The best results are delivered by the UAIX Long/Short Equity up 2.39% followed by the UAIX CTA, up 1.47%. With a performance of 11.67%, the UAIX Long/Short is in double figures for the time this year. It is followed by the UAIX Event-Driven up 6.03% and the UAIX Multi-Strategy up 3.44%.
UAI Blue Chip
The UAI Blue Chip progresses by 0.81% in October and is up 2.86% for 2013. The best performance is achieved by long/short equity, CTA, and multi-Strategy funds with progressions of 1.65%, 1.23% and 1.16%. On the negative side the worst performing results are achieved by the volatility, commodities and FX funds down -1.33%, -1.11% and -0.89% respectively. The long/short equity bucket is by far the largest contributor to the monthly performance with 33bp. It is followed by the macro and multi-Strategy one with 15bp and 12bp.
AUM and number of funds
The total assets managed in UCITS absolute return fund continue advance in October and now reaches EUR 174.7 billion for single funds and EUR 4.5 billion for funds of funds. The largest monthly growth is achieved by long/short equity funds with inflows of EUR 981 million (or 5.71%). The two strategies that are experiencing the largest outflows are Volatility and CTA with a drop of assets equivalent to -7.68% and -4.56%.
The UCITS Alternative Index series is the industry's leading benchmark for the UCITS absolute return funds universe. The UCITS Alternative Index series of indices track the performance of both global and strategy specific UCITS absolute return funds. Index rules and statistics are accessible on the UCITS Alternative Index website www.ucits-alternative.com. UCITS Alternative Index is a registered trademark. Alix Capital is the exclusive Index Provider to the UCITS Alternative Index.
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