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From Matthias Knab, Opalesque Europe: Man Investment's Research and Analysis Group has published its Q2 Quarterly Review, which can be downloaded at the Source link below. We highlight some of relevant findings from report:

• Hedge funds had their best quarter in nine years as risk appetite came back strongly. All styles except for managed futures made profits. Last year's laggards such as convertible bond arbitrage have been this year's biggest gainers and vice versa.
• Overall, hedge funds are back on track. The liquidity situation has improved considerably and many gated or suspended funds could liquidate their holdings in an orderly fashion and, in some cases, lift redemption restrictions earlier than expected.
• For a variety of reasons, many hedge funds are now less constrained by the de-leveraging process and are able to redeploy risk. When gating was in full swing the consensus was that gated money would melt away quickly when the gates were removed. In fact, this seems not to have happened.

In Q2, the HFRX Global Hedge Fund Index gained 4.85% (YTD 5.56%). Strong performance was recorded across all styles and strategies except for managed futures. Convertible bond arbitrage was the best performing strategy again, benefiting fr......................

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