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Alternative Market Briefing

Hedge funds rebound in July, outperforming global markets by +3.21%

Thursday, August 11, 2011

From Komfie Manalo, Opalesque Asia:

After two successive months of disappointing returns, the hedge funds industry heaved a sigh of relief at the end of July as the sector outperformed the global markets by +3.21% and posted year-to-date returns of +2.52%. Hedge fund data tracker Eurekahedge said that the significant comeback of the hedge funds industry came amidst a backdrop of intense financial concerns over the Euro zone debt issue, the health of the U.S. economy and the debt ceiling in Washington, that highlighted the market volatility in July.

The Eurekahedge Fund Index gained +0.62% last month, as managers across all regions continued to outperform the markets. The MSCI World Index fell -2.59% in July, as world markets grew increasingly risk averse.

The rebound in July’s performance was good news for the hedge fund industry which is trying to recover from two successive months of negative returns. The HFRI Fund Weighted Composite Index fell -1.28% in May (+1.92% YTD) as the global commodity and equity markets suffered negative losses and reversed the gains posted in previous months.

The US dollar strengthened against most major currencies, while US yields fell and the yield curve steepened. M&A activity proceeded despite credit spread widening, and most com......................

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