| Opalesque Industry Update - Hedge funds as measured by the Greenwich Global Hedge Fund Index (“GGHFI”) navigated volatile markets to finish the month with a slight loss. The GGHFI shed 1.32% compared to global equity returns in the S&P 500 Total Return (-1.67%), MSCI World Equity (-1.73%), and FTSE 100 (-0.74%) equity indices. 28% of constituent funds in the GGHFI ended the month with gains.
Hedge Fund Strategy Highlights
- Short-Biased and Fixed Income Arbitrage Funds post positive results for the month
- Long-Short Equity managers decline 1.06%, less than equity benchmarks
- Managed Futures funds slide 2.39% on intra-month selloff in equities and commodities
- Long-Short Credit and Fixed Income Arbitrage funds lead hedge funds on year-to-date basis, up 4.62% and 4.12%, respectively
- Emerging market funds decline marginally more than Developed Market managers; US/Canada funds are clear winners for the year, up nearly 3%
| Greenwich Hedge Fund Index Performance at a Glance |
|
Jun11 |
YTD |
|
|
|
| Greenwich Strategy Group Indices |
| Greenwich Global Hedge Fund Index |
-1.30% |
0.40% |
| Market Neutral Group |
-0.80% |
1.70% |
| Equity Market Neutral |
-0.90% |
-0.10% |
| Event-Driven |
-1.20% |
2.40% |
| Distressed Securities |
-0.60% |
3.20% |
| Merger Arbitrage |
-0.10% |
2.60% |
| Special Situations |
-2.10% |
1.40% |
| Arbitrage |
-0.30% |
1.50% |
| Convertible Arbitrage |
-0.70% |
2.00% |
| Fixed Income Arbitrage |
0.10% |
4.10% |
| Other Arbitrage |
-1.20% |
-2.10% |
| Long/Short Equity Group |
-1.10% |
1.10% |
| Growth |
-1.50% |
1.20% |
| Opportunistic |
-1.00% |
0.50% |
| Short-Biased |
3.70% |
0.10% |
| Value |
-1.00% |
1.30% |
| Directional Trading Group |
-2.00% |
-2.60% |
| Futures |
-2.40% |
-3.20% |
| Macro |
-1.10% |
-1.30% |
| Specialty Strategies Group |
-1.20% |
1.60% |
| Long/Short Credit |
-0.30% |
4.60% |
| Multi-Strategy |
-1.70% |
-0.30% |
|
|
|
|
|
|
| Greenwich Regional Indices |
| Developed Markets Composite Index |
-1.30% |
0.70% |
| Global |
-1.70% |
-0.80% |
| Asia |
-0.20% |
-0.80% |
| Europe |
-1.00% |
-0.20% |
| Americas |
-0.90% |
2.90% |
| Emerging Markets Composite Index |
-1.40% |
-1.00% |
| Global |
-1.30% |
1.00% |
| Asia |
-1.70% |
-2.70% |
| Europe |
-1.40% |
-0.30% |
| Americas |
-0.90% |
0.10% |
|
|
|
|
|
|
| Comparative Benchmarks |
| Barclays Aggregate Bond Index |
-0.30% |
2.70% |
| S&P 500 |
-1.70% |
6.00% |
| MSCI World Equity Index |
-1.70% |
4.00% |
| FTSE 100 |
-0.70% |
0.80% |
Corporate website: Source
- FG |