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Komfie Manalo, Opalesque Asia:

Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19% YTD, data provider Hedge Fund Research said.

HFR added that the global financial markets also made profits during the period on the strong U.S. employment report, Germany issued bunds with negative yields and the Bank of England left rates unchanged. European, U.S. and Asian equities all gained through mid-month, led by China, Japan, Germany, Russia and Brazil; sector gains were led by cyclical, commodity sensitive and technology areas.

The report said, "The U.S. Dollar gained against the Japanese yen and Swiss franc, and only slightly pared recent strength against the Euro and British pound sterling following strong June gains. U.S. rates were little changed as the yield curve flattened slightly. Metals gained led by silver and platinum while other commodities fell led by natural gas, oil, soybeans and cattle."

Event-driven strategies extend strong performance

The HFRX Event Driven Index posted a gain of +1.56% through mid-July, extending its strong performance from prior months. The HFRX Distressed Index posted a gain +3.21% for month, with contributions from exposure to the basic m......................

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