Tue, Aug 16, 2022
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds helped protect portfolios in June

Wednesday, July 08, 2015

Komfie Manalo, Opalesque Asia:

The Greek crisis in June pushed the Lyxor Hedge Fund Index down 2% (1.9% YTD),but the industry still outperformed traditional asset classes in a context in which thecorrelation between equities and bonds is positive, reported Lyxor Asset Management in its latest Weekly Briefing.

In comparison, the MSCI World fell 2.6% last month and sovereign benchmarks were down on both sides of the Atlantic (the 10-year Bund price down 2%; 10-year Treasury price down 1.7%).

CTAs underperformed, down 4.8% in June (-3.5%YTD) on the back of long exposure to both equities and bonds, and short exposure to agriculturals. "However, after a severe drawdown in Q2 we believe the worst is behind us and we maintain the slight overweight stance expressed a couple of weeks ago (we were neutral over the course of Q2)," said Philippe Ferreira, Lyxor AM’s head of research, managed account platform.

Event Driven managers also underperformed, down 1.8% (+2.3% YTD),as they suffered from their positions in the consumer, financial and energy sectors.Deal spreads were hurt by the declining global risk appetite, the report said. However, L/S Equity proved resilient,down 1% (+4.1% YTD), outperforming equity markets on both sides of the Atlantic. Market neutral funds fared well while Asian funds continued to su......................

To view our full article Click here

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. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  2. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  3. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: https://bit.ly/DXCInfo Castle Hall, the Du

  4. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  5. Opalesque Exclusive: This European mezzanine debt strategy offers equity-like returns with downside protection[more]

    B. G., Opalesque Geneva for New Managers: Mezzanine financier SIG-i operates in a relatively uncrowded space by proactively manufacturing financing solutions as an alternative to traditional debt and equity instrume