Wed, Jun 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge funds up 0.71% in August

Friday, September 10, 2010
Opalesque Industry Update - Based on 35.78% of the funds reporting the NAV for August 2010 as at 9 September 2010.

Hedge funds were up for the second month running as managers outperformed the underlying markets in August. The Eurekahedge Hedge Fund Index was up 0.71%1 during the month, bringing the year-to-date August returns to 1.92%. The MSCI World Index, on the other hand, was down 3.69%, with its year-to-date August figure falling to -7.51%.

Below are the key takeaways for the month:

* Hedge funds outperformed global markets by 7.5% August YTD.

* Assets in UCITS III hedge funds crossed US$130 billion.

* CTA/managed futures funds delivered 3.00% in August.

* Distressed debt hedge funds were up 8.56% August YTD.

* Japan is the best performing hedge fund region versus the underlying markets – the Eurekahedge Japan Hedge Fund Index was ahead of the Nikkei 225 by 16.8% August YTD.

In terms of regional mandates, hedge funds in the American time zone were the best performing, with Latin American managers posting gains of 0.60% and North American managers delivering profits of 0.37%. North American managers delivered significant outperformance to underlying equity markets through their exposure to safe assets such as gold and the US dollar – both of which were up during the month. Other US commodities also witnessed rallies, helping North American CTA managers to post excellent returns of 2.24%, the best among the regional managers. As of August year-to-date, the Eurekahedge North American Hedge Fund Index advanced 2.62% while the S&P 500 is down 5.9%.

On the flip side, Japanese managers suffered the greatest losses in August as the Eurekahedge Japan Hedge Fund Index lost 1.03%. The Nikkei 225 was down 7.5% in the month, breaking below 9,000 points, which had been a support level for over a year. The strong Japanese yen, trading at a 15-year high against the US dollar, also translated into declines in the underlying markets. European hedge funds were also in the red as the Eurekahedge Europe Hedge Fund Index lost 0.26% in the month.

In terms of strategic mandates, CTA/managed futures hedge funds delivered the best performance in August as a spike in risk aversion during the month sent money into safety assets and benefited managers who were long on gold and the US dollar. Rallies in soft commodities were also profitable for CTA managers – the Eurekahedge CTA/Managed Futures Hedge Fund Index was up 3.00% in August. Fixed income strategies also ended the month in positive territory amid a flight of capital to the safety of bonds. Long/short equity managers, however, suffered marginal losses to the tune of -0.46% amid negative movements in most equity markets across the globe.Source
KM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.