Sun, Jan 22, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

HFRX Global Hedge Fund Index posts a decline of -0.54% in mid-June

Wednesday, June 20, 2012
Opalesque Industry Update - Extending many of the trends from May, global financial markets traded in a volatile range through mid-June, responding to weak US employment data, new and continuing concerns about European financial institution stability and in anticipation of the results of political elections in Greece. Despite this global equity markets posted broad-based gains for the month, with Spain, Italy and Russian equity markets posting June gains following steep May losses; US, Asian and Emerging Markets generally posted gains. US and German yields rose through mid-month after touching historical lows in early June, while yields in Spain, Italy and France rose significantly as investors remained concerned about Euro sovereign credit risk. The US dollar declined against the Euro and British Pound, while strengthening against the Japanese Yen; energy commodities generally declined, while Metals rose through mid-month. Hedge funds posted declines through mid-June, with the HFRX Global Hedge Fund Index posting a decline of -0.54 percent. The HFRX Absolute Return Index posted a more narrow decline of -0.14 percent.

The HFRX Equity Hedge Index posted a decline of -0.38% through mid-June as global equity markets continued to experience volatility from uncertainty, despite equities posting gains through mid-June. Exposure to Asian equities contributed to losses for the HFRX Fundamental Growth Index, while US and European exposures contributed to a narrow gain for the HFRX Fundamental Value Index. Market Neutral strategies were adversely impacted by the equity volatility, with the HFRX Equity Market Neutral Index declining by -0.98%.

The HFRX Macro CTA Index posted a decline of -1.06% through mid-June with declines concentrated in systematic and commodity strategies only partially offset by gains in currency and emerging markets exposure. The HFRX Macro Systematic Diversified CTA Index declined by -1.89% with losses resulting from sharp reversals in commodities and fixed income. Discretionary managers had mixed performance with gains in currency and emerging markets exposure offset by mixed performance in commodities.

The HFRX Event Driven Index posted a decline of -0.38% through mid-June with weakness concentrated in Distressed and credit sensitive exposures. The HFRX Distressed Index declined -0.63% while the HFRX Special Situations Index declined by -0.52%, with both of these maintain YTD gains of +3.1% and +1.5%, respectively. The HFRX Merger Arbitrage Index posted a more narrow decline of -0.17%, while Activist and Market Neutral Credit Arbitrage strategies had positive contributions to Index performance.

The HFRX Relative Value Arbitrage Index posted a decline of -0.42% through mid-June as yields rose from historical low levels in early June contributing to declines across US corporate fixed income and energy infrastructure exposures. The HFRX RV Multi-Strategy Index posted a narrow decline of -0.02%, with gains in Latin American sovereign debt exposure, offset declines in Asian credit exposure. The HFRX Convertible Arbitrage Index posted a decline of -0.47%, with losses in US & European ED convertible exposures only partially offset by gains in Asian convertible exposure. Full press release: Source
PD

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