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Alternative Market Briefing

Brexit-driven volatility drives event-driven hedge fund strategies in June

Monday, July 18, 2016

Komfie Manalo, Opalesque Asia:

Four out of six IQ Hedge Indexes finished June in positive territory as the month ended on a turbulent note, IndexIQ said in its latest performance report.

The absolute return indexes were led by the IQ Hedge Market Neutral Index, returning 1.16% for the month (+3.95% YTD). The IQ Hedge Event Driven Index gained 0.90% during the month (+3.39% YTD).

"The Brexit vote caught everyone by surprise, and was yet another reminder of the role liquid alternatives can play in portfolio diversification," said Adam Patti, chief executive officer at IndexIQ. "An investor can maintain a comfortable level of market exposure while keeping some downside protection in place, an approach that proved its merit in the volatile days that brought June to a close."

Designed as investable benchmarks that replicate the performance characteristics of sophisticated hedge fund strategies, the IQ Hedge Indexes comprise the first family of investable benchmark indexes covering hedge fund replication/alternative beta strategies.

"Weak economic growth remained part of the market subtext during June as GDP estimates remained low and employment gains announced during the month were meager," said Sal Bruno, chief investment officer of IndexIQ. "These factors served to underscore the position that the Fed would not be raising rates any time in the near future."......................

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