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Alternative Market Briefing

Hedge funds post strong returns in 2Q but first half still worst since 2008

Monday, July 18, 2016

Komfie Manalo, Opalesque Asia:

Hedge fund performance has stabilized in the second quarter after a volatile start to 2016 and recovered from losses seen in the first quarter, according to the latest Preqin All-Strategies Hedge Fund benchmark.

In its report, Preqin said that the industry posted gains of 0.15% in June, despite global market turbulence leading up to and following the Brexit vote; this represents a fourth consecutive month of positive performance. This streak of positive industry performance has resulted in hedge funds reporting returns of 2.15% for the second quarter, which in turn, has driven overall gains of 1.36% through H1 2016. Despite this, 2016 represents the lowest H1 performance for the hedge fund industry since 2008, when funds saw losses of 0.53%.

Amy Bensted, head of hedge fund products at Preqin, commented, "It has been a mixed picture for hedge funds in the first half of 2016. Suppressed commodity prices and turbulence in global markets led to a difficult environment in January and February. Since then, however, the industry has rallied, with all leading strategies, liquid alternatives and CTAs posting gains through the second quarter."

Bensted added that macro strategies generated the strongest returns in June with gains of 1.15%, and are also outperforming all other leading hedge fund strategies across H1 with performance of 3.18%. Credit strategies funds also saw positive returns i......................

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