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Alternative Market Briefing

Hedge funds continue recovery but fixed income, macro and AI hedge fund strategies report losses

Tuesday, June 12, 2018

Matthias Knab, Opalesque:

Hedge fund managers ended May in the green, with the Eurekahedge Hedge Fund Index up 0.18% over the month, trailing behind the 0.84% gain posted by the MSCI AC World Index over the same period. Concerns over the US-China trade spat have somewhat diminished, with both sides calling a truce. China offered to increase imports of US goods to reduce the trade imbalance between the two countries, and cut down import duties on passenger vehicles, which have previously been touted as 'unfair' by the US president.

Developed markets continued to outperform their emerging market counterparts in May, as Asian and Latin American countries came under the pressure on account of geopolitical concerns and strong greenback as indicated by the US dollar index's 2.34% gain over the month. Global economic outlook remains positive, supported by the recovery in investment and global trade growths, as well as supportive fiscal policies. However, rising interest rates might pose risks for countries and corporations with high debt levels. It also remains to be seen how the US-China trade war would resolve once the ceasefire is called off.

Roughly 54% of the underlying constituents of the Eurekahedge Hedge Fund Index were in the positive territory by end-May, with event driven fund managers leading the pack, gaining 1.69%. Among regional mandates, managers with exposure toward Eastern Europe & Russia and Latin America posted the gravest losses, with both......................

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