Thu, Jun 30, 2016
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 - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  2. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  3. Chesapeake Partners to liquidate hedge fund amidst 'hostile environment'[more]

    Komfie Manalo, Opalesque Asia: Chesapeake Partners Management, the hedge fund run by woman fund manager Traci Lerner said it would return investors’ money after 25 years because the market environment has become "hostile" to manage other people’s money, reported

  4. Europe - George Soros says Brexit has ‘unleashed’ a financial markets crisis, Brexit—what we know, Will the UK’s departure be a ‘soft-Brexit’ or a ‘hard-Brexit’?, Brexit: Six-point action plan for asset managers[more]

    George Soros says Brexit has ‘unleashed’ a financial markets crisis From Bloomberg.com: Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Bruss

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.