Tue, Apr 25, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge Fund Research - HFRI Flash Update Monthly Performance Indices - June 2010

Friday, July 09, 2010
Opalesque Industry Update - Hedge funds concluded the surprisingly volatile 1H10 with a decline of -0.81% for the HFRI Fund Weighted Composite Index, bringing 1H10 performance to a narrow decline of -0.18%. After a quiescent 1Q, volatility increased significantly in 2Q with concerns about sovereign credit risk, currency policy adjustment, economic and energy market impact of the environmental disaster and concerns about slowing growth in both developed and emerging economies contributing to declines in global equity markets, a powerful late-quarter rally in US Treasury bonds and volatile directional moves in currency & commodity markets.

Equity Hedge was the weakest area of industry performance with the HFRI Equity Hedge (Total) Index declining -1.50% (YTD: -1.60%). Across EH sub-strategies, funds focused on Fundamental Value and Energy/Basic Materials were the weakest area of performance, with these declining by -2.05% and -1.95%, respectively. Equity Market Neutral and Sector: Technology/Healthcare posted more modest declines, with these declining -0.40% and -0.90% for June, respectively. Short selling funds were the lone positive contributor in EH, gaining +3.73%.

Relative Value Arbitrage was the strongest area of industry performance, with the HFRI Relative Value (Total) Index gaining +0.40% for June (YTD: +3.66%). Fixed Income exposure across sovereign, convertible, corporate and asset backed all posted gains in June, which were complemented by gains in Volatility and MLP-focused strategies; gains were driven by falling yields, increasing volatility and a sharp increase in Natural Gas.

The HFRI Macro (Total) Index declined by -0.23% in June, dropping YTD performance to -1.27%. Minimal gains in quantitative, trend following Systematic Diversified (+0.17%) strategies and Active Trading strategies only partially offset declines in Discretionary Thematic and Commodity Focused funds.

The HFRI Event Driven (Total) Index declined by -1.10% (YTD: +2.43%) with declines in Activist and Distressed/Restructuring (-0.94%) offsetting gains in Merger Arbitrage (+0.11%) on weaker corporate credit markets and generally wider risk arbitrage spreads.

The HFRI Emerging Markets (Total) Index posted a decline of -0.63% with gains in Latin America and Emerging Asia only partially offsetting declines in Russia and the Middle East... Full performance table: Source
-PD

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. Investing - Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low', Asia CIOs say "non" to Europe, Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether[more]

    Hedge fund Ecofin says EDP bid for renewable energy unit 'egregiously low' From Reuters.com: London hedge fund firm Ecofin said an offer from Portugal's largest company EDP to buy 22.47 percent of subsidiary EDP Renovaveis "significantly undervalues" the company, in a letter to EDPR's bo

  2. Alternative asset firm YieldStreet surpasses $100m of loans funded in less than 8 quarters[more]

    Komfie Manalo, Opalesque Asia: Alternative asset investment platform YieldStreet reported that it has surpassed $100m in loans funded in less than eight quarters from accredited investors and single family offices. YieldStreet was founded by Milind Mehere and Michael Weisz. In a

  3. Investing - Investor appetite for high-growth IPOs to be tested, Apollo boosts fund's stock allowance for 'diamonds in the rough', Hedge funds uncertain over outlook for Hargreaves Lansdown[more]

    Investor appetite for high-growth IPOs to be tested From FT.com: The US listings market is poised for a busy week with deals that will test investors' appetite for high-growth - but lossmaking - companies. Eight new listings are scheduled for this week, the most since October of 2016,

  4. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  5. Aris Wealth' quant indices fare well[more]

    Benedicte Gravrand, Opalesque Geneva: Last year, Geneva-based Aris Wealth Management launched indices sponsored by Societe Generale Corporate & Investment Banking. These indices replic