Sat, Aug 23, 2014
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. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  2. Private equity follows hedge funds into reinsurance for long-term capital[more]

    From Artemis.bm: It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management. The entry of large pr

  3. North America – New York City’s next hot neighborhoods targeted with property funds[more]

    From Bloomberg.com: New York’s real estate world is filled with tales of ordinary people who bought property decades ago and saw values skyrocket to the millions. Seth Weissman is seeking investors to get in early on the next hot neighborhoods. The veteran of Goldman Sachs Group Inc. and hedge

  4. Investing – George Soros bets $2bn on stock market collapse, Warren Buffett's Berkshire reveals Charter stake, cuts DirecTV, Hedge funds lusting to cash out of MGM, Top hedge fund managers are buying Ally Financial, Hedge funds dumped 5m Herbalife shares in Q2, Paulson & Co hedge fund ups Puerto Rico real estate bet, Netflix Inc., Citigroup Inc, Google Inc are top new picks in Tiger Management’s 13F[more]

    George Soros bets $2bn on stock market collapse From Newsmax.com: Billionaire investor George Soros has increased his financial bet that U.S. stocks will collapse to more than $2 billion. The legendary hedge fund manager has been raising his negative bet on the Standard & Poor's 500 Inde

  5. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added