Opalesue Industry Update - Below are early estimates for June 2010 and 1H 2010 hedge fund performance and asset flows. A full report will be available later in the month.|
June and First Half 2010 Performance Highlights:
June and First Half 2010 Asset Flow Highlights:
Aggregate hedge fund performance was strong relative to equity markets in June and in the first half of 2010. Although positive returns were more prevalent among fixed income and FX related strategies, long/short equity funds continued to show strong relative returns compared to their equity market benchmarks.
Despite the net inflow from investors in the first half, the industry’s growth has trended downward for several months in a row culminating in the first net outflow of 2010 in June. Additionally, the last two months’ performance has likely put a meaningful portion of the industry below their high water marks.
HFN’s full June report, to be released in the third week of July, will provide details on high water marks and asset flows by strategy and region.
June and 1H 2010 Benchmark Performance:
Emerging Market Benchmarks:
HFN Brazil Index: +2.15% in June, -1.14% in 2010 HFN China Index: +1.98% in June, -5.46% in 2010 HFN India Index: +2.40% in June, +3.07% in 2010 HFN Russia Index: -2.78% in June, +1.30% in 2010 HFN Latin America Index: +1.96% in June, -0.43% in 2010 HFN MENA Index: -2.42% in June, +0.78% in 2010 Emerging Market Debt: +1.62% in June, +2.87% in 2010 Emerging Market Equity: -0.95% in June, -1.02% in 2010 HFN Emerging Markets Index: +0.36% in June, +1.37% in 2010
Broad and Developed Market Benchmarks:
HFN Asia Index: -1.28% in June, -1.47% in 2010 HFN Europe Index: -1.01% in June, -0.97% in 2010 HFN North America Index: -1.16% in June, +1.22% in 2010 HFN Australia Index: -0.67% in June, -4.32% in 2010 HFN Japan Index: -2.82% in June, +1.40% in 2010 HFN U.S. Index: -1.32% in June, +0.95% in 2010
Fixed Income (FI) Strategies
All Fixed Income Strategies: +0.76% in June, +5.37% in 2010 Corporate bond strategies: +0.27% in June, +5.47% in 2010 Government bond strategies: +1.31% in June, +3.94% in 2010 HFN Distressed Index: +0.74% in June, +6.64% in 2010 HFN Mortgages Index: +1.00% in June, +9.85% in 2010 HFN Fixed Income Arbitrage Index: +0.49% in June, +5.55% in 2010
Equity (EQ) Strategies
All Equity Focused Strategies: -1.08% in June, -0.42% in 2010 HFN Long/Short Equity Index: -1.46% in June, -1.33% in 2010 HFN Market Neutral EQ Index: -0.36% in June, +0.56% in 2010 HFN Short Bias Index: +4.11% in June, -0.94% in 2010 HFN Energy Sector Index: +1.50% in June, +2.46% in 2010 HFN Healthcare Sector Index: -2.81% in June, -1.79% in 2010 HFN Technology Sector Index: -2.30% in June, +1.51% in 2010
Commodity and Foreign Exchange (FX) Related Strategies
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