Thu, Feb 23, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GAM offers insight into July hedge fund performance

Monday, August 06, 2012
Investment group GAM report that July was a choppy month for equity markets and risk assets in general. The MSCI World index ended the month up 1.3%, but during the month the index reversed and changed direction on four occasions moving down or up more than 3% each time. Credit markets showed similar volatility but posted gains by month end. ABS and especially RMBS had a strong month as investors continued to reach for better yields than those available from the bonds of perceived safe sovereigns. Commodities had a strong month on the back of soybeans, wheat and corn rallying very steeply due to supply concerns caused by the US drought.

Hedge fund strategies performed positively in July with the HFRX Global Hedge Fund index up 0.5%. Trend following CTA hedge funds performed notably well with the Newedge Trend Sub-Index up 4.8% for the month.

Anthony Lawler, Portfolio Manager at GAM, said: “July was an encouraging month within which we saw individual managers in each main hedge fund strategy producing positive performance of several percentage points or more. It is particularly pleasing to see global macro have a solid month despite equity markets rallying, given that global macro managers remain cautious on global growth prospects.”

The hedge fund performance drivers for July were varied according to Lawler: “Performance in July came from numerous sources and from positioning across different themes, geographies and asset classes. Within credit and relative value, managers did well in ABS and long credit positions generally. Within global macro including CTAs, gains came from a variety of trades including longs in soft commodities, long global bonds, long US dollar, long Australian dollar and short the euro. It is encouraging to see the diversity of trades that drove performance as this indicates that this month was not simply a risk-on or risk-off month, but rather traders were in many cases rewarded for taking more nuanced directional views.”

Press release

bc

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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio