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Komfie Manalo, Opalesque Asia: Hedge funds serviced by Peregrine Capital succumbed to the pressures impacting financial markets the world over and recorded a loss in June, albeit slightly ahead of the All Share, pushing year-to-date returns back into the red after having just recovered from losses sustained at the beginning of the year.
In its June report to investors, Peregrine said that market sentiment was driven by the Brexit referendum. Although there was some uncertainty prior to the referendum, the market volatility which greeted the actual outcome seemed to indicate that the market had not priced in much chance of British voters democratically choosing to exit the European Union. This saw the All Share Index in turn shed a substantial -3.0% for the month leaving its YTD at +4.3% as firm enter the second half of the year.
Peregine commented, "Looking closer at sectoral indices, we see financials as the relative best performer with a loss of -2.8% which in turn pulled its YTD figure into the red at -1.0%. Resources were not far behind in shedding -3.3% for the month, its YTD though, remains impressive at +20.6% while industrials were the least fortunate in claiming the biggest loss for the month, -4.0% which translated into a YTD just marginally negative at -0.3%."
Returning to its primary hedge fund styles, Equity Long-short lost -2.62% in June (following an excellent +4.02% in May) while Market Neutr...................... To view our full article Click here
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