Tradex Global Liquid Real Estate Portfolio - US Niche Fund of Hedge Funds of the Year Winner

We are pleased to announce that Tradex Global Advisors' Liquid Real Estate Portfolio won Preqin's 2014 International Hedge Fund Award for US Niche Fund of Hedge Funds of the Year.  

We are honored to be selected and believe the voters recognized our ability to generate strong absolute returns while maintaining best-in-class processes and procedures.  The International Hedge Fund Awards, now in their second year, have rapidly become a go to resource for industry professionals and are recognizing excellence, innovation and performance across the asset class. 

Please contact Jeff Trongone at 203-863-1518 or jeff@thetradexgroup.com to further discuss the opportunity set this year.

FLASH UPDATE: More Evidence of a Housing Slowdown

Housing starts dropped significantly from a 1,048K annual pace in December to a 880K annual pace in January, a 16% drop.  The consensus estimate had been for 950K.  Harsh weather again is thought to be a contributor to the decline - although we note that starts in the Northeast actually rose.  Housing permits, which is typically less weather sensitive, fell 5.5% as well. 

It is clear that the rise in mortgage rates over 2013 has had a damping effect on the housing market.  Although less clear is the overall effect this has had - and will have - on the economy and to what degree, if any, Fed policy will be influenced by this slowdown.  However, all else equal, a reduction in mortgage supply should have a firming effect on mortgage spreads.

Tradex Global Advisory Services, LLC

investorrelations@thetradexgroup.com 

203-863-1500

@Tradex_Global

FLASH UPDATE: Signs of a Pause in Housing Recovery Continue to Pile Up

Signs of a cooling in the housing recovery continued to pile up with the release of the Housing Market Index (HMI) today.  The index dropped sharply to 46 in early February from 56 in January.  Expectations from economists had been for this index to remain firm.   While harsher than usual weather was again thought to be a contributing factor, it is increasingly difficult to explain away recent data with this rationale.

As we’ve written earlier in this blog, both Existing Home Sales (EHS) and New Home Sales (NHS) both saw weakness in recent months.  In addition, at January month-end, Pending Home Sales (PHS) also fell strongly (-8.7%) to its lowest level since October 2011.  Of particular  note, PHS in the western part of the US, where harsh weather would not have been a contributing factor, has dropped 16% year-over-year.

The cooling in the housing market, in light of ongoing price strength and low inventories, can be expected to be constructive to mortgage spreads in the secondary market.

Tradex Global Advisory Services, LLC

investorrelations@thetradexgroup.com 

203-863-1500

@Tradex_Global