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Alternative Market Briefing

Hedge funds continue winning streak for eight consecutive months, up 0.4 in June (+3.68 YTD)

Tuesday, July 11, 2017

Komfie Manalo, Opalesque Asia:

Hedge funds continued its winning streak with eight consecutive months of steady gains in June and the 15th gain in the last 16 months, as the US Federal Reserve raised interest rates and oil prices extended sharp declines, while equity market volatility remained near historic lows, according to data by Hedge Fund Research.

The HFRI Fund Weighted Composite Index advanced 0.4% last month (+3.68% YTD), led by strong performance in emerging markets, equity hedge and healthcare exposures. June performance topped the Nasdaq and European equities, and extending the record Index Value for the HFRI to 13,425.

"Hedge funds posted another positive month in June as implied volatility across many assets and regions remained near historic lows, with the recent string of positive performance approaching a significant historical context. For the broad-based HFRI, June marked the eighth consecutive positive month for the first time since the period ending April 2011 and the first time the index had 15 out of 16 consecutive monthly gains since the period ending April 2004," stated Kenneth J. Heinz, president of HFR.

Equity hedge (EH) led main hedge fund strategy performance for June and 1H17, led by exposures to healthcare and emerging markets. The HFRI Equity Hedge (Total) Index advanced +1.2% for the month, topping the gain of the S&P 500 and bringing 1H17 performance to +6.2%, which exceeds the full-year returns of each of the thr......................

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