Sat, May 28, 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. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  2. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  3. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America

  4. Emerging markets hedge funds perform strongly, but capital base erodes[more]

    Komfie Manalo, Opalesque Asia: Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year

  5. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit