Opalesque Industry Update — After a strong finish at the end of July the momentum in the UCITS hedge fund universe kept going for the first three weeks in August 2010. Despite a drop in the last week of the month the UCITS HFS Index was able to return 0.43% in August 2010. |
The broad index returned 0.22%, 0.24% and 0.29% in the first three trading weeks of August respectively before the last days of the month saw the UCITS HFS Index lose -0.33%. This loss in week 4 of August was mainly due to a negative performance of L/S Equity which lost -0.80% and Arbitrage which lost -0.51%.
From a sub-strategy perspective eight out of the eleven strategies returned positive results. Fixed Income (+2.24%), Credit and Multi Strategy (both +1.83%) enjoyed the best run this month in particular, although Multi Strategy was the only strategy in the index returning positive results week after week.
The three negative strategies L/S Equity (-0.49%), Arbitrage (-0.27%) and Convertible (-0.20%) all were positive after the first three weeks of trading. It were the last days of August in which they all took a big hit and therefore turned negative from a monthly perspective. From a year to date perspective the only negative sub-strategy in the index remains CTA (-2.35%) whose returns of +0.17% in August were not enough to turn things around significantly.
The broad UCITS HFS Index now stands at 2.69% year to date.
Full performance table: www.ucitsindex.com
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