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Komfie Manalo, Opalesque Asia:

Event-driven hedge fund strategies extended their winning streak from the week covering 11 July to 18 on the back of positions in the technology, consumer non cyclical and communications sectors. The Lyxor Event Driven Broad Index was up 0.7% during the period (+6.3% YTD), Lyxor Asset Management said in its Weekly Briefing.

Across the industry, the Lyxor Hedge Fund Index was flat during the week as gains in event-driven, L/S equity and CTAs were offset by Global Macro strategies. The latter continues to experience headwinds related to the rise of the EUR vs. USD and the underperformance of European stocks vs. the S&P 500. Long agricultural detracted from performance as well.

"The market developments have had significant implications for hedge fund performance," Lyxor said. It added, "The long positions of event-driven and L/S equity funds to technology stocks have been rewarding and contribute to explain why both strategies outperformed last week. The so-called FANG stocks (Facebook, Amazon, Netflix, and Alphabet Inc. (Google)) are among the most preferred names by fundamental stock pickers."

It added that event-driven funds also benefitted from positions in the consumer non cyclical and communications sectors. CTAs delivered positive returns after a troubled start to the month, as part of their long positions on both equities and fixed income. Long positions on EUR vs. USD also cont......................

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