Opalesque Industry Update - Hedge funds as measured by the Greenwich Global Hedge Fund Index (“GGHFI”) navigated volatile markets to finish the month with a slight loss. The GGHFI shed 1.32% compared to global equity returns in the S&P 500 Total Return (-1.67%), MSCI World Equity (-1.73%), and FTSE 100 (-0.74%) equity indices. 28% of constituent funds in the GGHFI ended the month with gains.
Hedge Fund Strategy Highlights
Short-Biased and Fixed Income Arbitrage Funds post positive results for the month
Long-Short Equity managers decline 1.06%, less than equity benchmarks
Managed Futures funds slide 2.39% on intra-month selloff in equities and commodities
Long-Short Credit and Fixed Income Arbitrage funds lead hedge funds on year-to-date basis, up 4.62% and 4.12%, respectively
Emerging market funds decline marginally more than Developed Market managers; US/Canada funds are clear winners for the year, up nearly 3%
Greenwich Hedge Fund Index Performance at a Glance