M&A and convertible bonds popular in September
17 October 2014 London
Image: Shutterstock
The securities lending team at Deutsche Bank has noted the highest quarterly mergers and acquisitions deal volume of 2014 thus far and the return of the convertible bond market, with nine new issues for the month of September.
The team also found that sectors gaining short interest over the month of September included offshore drilling in the US and real estate in Asia.
Hedge funds proved their ability to protect capital in September as the median global fund gained 0.10 percent despite the MSCI World Index losing 2.78 percent.
According to the research, commodity trading advisor (CTA) and managed futures continued to lead performance globally, with the median fund posting gains of 2.49 percent for the month and 4.83 percent for the year.
CTA and managed futures and macro strategies posted median gains in the US of 2.42 percent and 1.88 percent, respectively, and also led in Europe, up 2.28 percent and 1.10 percent, respectively.
These two strategies also posted the highest dispersion of returns. In Japan long and short, multistrategy and macro funds gained despite the MSCI Asia Pacific Index declining 5.14 percent.
The MSCI World 30-day volatility decreased 23.41 percent over the month, ending at 6.61 on 29 September 2014. Both gross and net fundamental equity exposure also decreased, ending at 2.83 and 0.69, respectively.
The team also found that sectors gaining short interest over the month of September included offshore drilling in the US and real estate in Asia.
Hedge funds proved their ability to protect capital in September as the median global fund gained 0.10 percent despite the MSCI World Index losing 2.78 percent.
According to the research, commodity trading advisor (CTA) and managed futures continued to lead performance globally, with the median fund posting gains of 2.49 percent for the month and 4.83 percent for the year.
CTA and managed futures and macro strategies posted median gains in the US of 2.42 percent and 1.88 percent, respectively, and also led in Europe, up 2.28 percent and 1.10 percent, respectively.
These two strategies also posted the highest dispersion of returns. In Japan long and short, multistrategy and macro funds gained despite the MSCI Asia Pacific Index declining 5.14 percent.
The MSCI World 30-day volatility decreased 23.41 percent over the month, ending at 6.61 on 29 September 2014. Both gross and net fundamental equity exposure also decreased, ending at 2.83 and 0.69, respectively.
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