Thu, Jan 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge funds post gains in July HFRX Global Hedge Fund Index +1.23% (est) +0.02% YTD

Wednesday, August 04, 2010
Opalesque Industry Update - Hedge Funds posted gains in July as equities recovered from the two month slide and risk tolerance returned to financial markets; currencies continued to be a focal point for investors as the Euro experienced a significant recovery against the US dollar. Investors were reassured by a number of developments including public equity and debt issuance, bank earnings and stress tests results, passage of a framework for US financial reform and the moderation of Euro-centric sovereign debt concerns. The HFRX Global Hedge Fund Index gained +1.23% for July, reversing 2 consecutive months of declines and bringing the index to a gain of 0.02% for 2010.

Equity Hedge strategies had the largest contribution to July performance, with the HFRX Equity Hedge Index gaining +2.28%. Within these, Fundamental Growth funds gained +4.29%; Fundamental Value posted a smaller gain of +1.74. Equity Market Neutral posted a narrow gain of +0.12% for July; however, EMN has been the strongest area of Equity Hedge YTD 2010, with a gain of +2.05%.


Macro fund partially offset equity-driven gains, with the HFRX Macro Index posting a decline of -0.63% for July. Reversing the trend of positive contributions from Systematic Macro strategies, these declined -4.05% in July, surrendering most of the YTD gain to end the month +0.30% YTD. Short exposure in equities and commodities offset gains in fixed income and currency positions for the month. Fundamental Discretionary Macro exposure had only a partially offsetting positive contribution to the loss in Macro.


The HFRX Relative Value Index continued positive YTD performance with a gain of +1.54% in July, bringing YTD performance to +2.85%. Gains were distributed across credit sensitive Convertible Arbitrage and Multi-Strategy exposures, with these adding +1.58 and +1.76%, respectively.


The HFRX Event Driven Index posted a gain of +0.90%, reversing a YTD loss to bring index performance to +0.16%. On improved credit, risk tolerance and overall financial market liquidity, Distressed strategies had the strongest positive contribution, followed by Merger Arbitrage and Special Situations. 



Comments reference performance figures as posted on August 3, 2010. Source

kb

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 - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised