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Laxman Pai, Opalesque Asia: Hedge funds posted gains in August 2018 as recorded by the HFRI Fund of Funds (Total) Index which returned +1.1% for the month.
According to a report by Hedge Fund Research, macro hedge funds led August performance with the HFRI Macro (Total) Index advancing +0.9%, the strongest monthly return since surging +2.75% in January and snapping a 3-month decline.
A press release from the research firm quoted Kenneth J. Heinz, President as saying: "Macro hedge funds led industry gains in August as the macroeconomic environment shifted with EM asset volatility spiking while the US Dollar extended gains and technology equities reached record highs."
He added: "Recent Emerging Markets (EM) weakness has expanded the opportunities for long/short, relative value positioning in EM equities and currencies, while the divergent impact of fluid trade tariff volatility proposals has widened the valuation gap between manufacturing and technology equities, also creating convergence opportunities. It is likely that tactical positioning in the both of these areas will drive performance in coming months."
The HFRI Fund Weighted Composite Index (FWC) gained +0.7% for the month as all main strategies advanced, bringing the YTD 2018 return of the FWC to +2.0%.
Driven by currency exposure, macro sub-strategy performance was led by quantitative, trend-following CTA strategies, with the HFRI Macro: Systematic Diversified Index jumping +2.3%, also th...................... To view our full article Click here
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