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Komfie Manalo, Opalesque Asia: Global hedge funds posted gains through mid-June with the HFRX Global Hedge Fund Index gaining +0.19% for the period (+2.53% YTD), Hedge Fund Research said in its latest report. Financial markets posted mixed performance during the same period, as the US Federal Reserve increased interest rates, energy commodities extended declines and equity volatility remained near historical lows.
"Equity markets posted modest increases with gains in the US and Asia offset by declined in Europe and emerging markets; similarly, gains in technology, healthcare and financials were offset by declines in energy and commodity sensitive sectors," HFR said. "Longer maturity US government bond yields declined despite the interest rate increase by the Fed; high yield credit gains as yields on short dated maturities increased creating a curve flattening. Commodities declined led by oil; silver, aluminum and cotton also declined. The US dollar posted narrow gains against the euro, British pound, Swiss franc and Japanese yen."
The HFRX Macro/CTA Index posted a gain of +0.49% through mid-June from gains in Fixed-Income strategies, emerging markets and systematic trend-following managers. The HFRX Systematic Diversified Index posted a gain of +0.35% as the USD strengthened, energy and metal commodities fell through mid-month and agriculturals traded in a wide margin. The HFRX Emerging Markets Index posted a gain of +0.56% from exposure to the...................... To view our full article Click here
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