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Alternative Market Briefing

Chicago hedge fund AM Capital blames 'dysfunctional’ governments in Europe and U.S. for losses in April

Tuesday, May 15, 2012

From Precy Dumlao, Opalesque Asia:

The hedge fund industry’s losses in April demonstrate "how dysfunctional governments in Europe and the U.S. can only give negative impact for the markets," according to Aaron Miller, President of Chicago, Illinois-based hedge fund AM Capital.

All major hedge fund indices reported losses in April with hedge fund data provider Hedge Fund Research reporting that its HFRI Fund Weighted Composite Index declined -0.36% during the month (+4.42% YTD) on investors’ resurgent concern over the European sovereign debt crisis and uncertainty surrounding the outcome and implications of European elections. The Eurekahedge Hedge Fund Index also fell -0.07% during the month as well as the Hennessee Hedge Fund Index which reported a -0.38% decline in the same period (+4.02% YTD).

"The macro outlook took a turn for the worse with Europe coming back into the daily markets and now the leaders who agreed on austerity lost their elections," Miller said. "I am more in favor in the short term of printing money than complete austerity however the fact that things are so uncertain in Europe can’t be a positive for the market. And micro factors also took a mino......................

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