|
Laxman Pai, Opalesque Asia: Hennessee Group announced today that the Hennessee Hedge Fund Index gained +0.48% for the month. Global equities, as measured by the MSCI World index, gained in August but there were significant regional differences amid persistent US-China trade tensions and Turkey's currency crisis.
A press release from the firm revealed that the top three strategies for the month were Short Biased (+12.02%), Emerging Markets (+5.70%) and Technology (+2.95%). While the bottom three strategies for the month were Distressed (-7.46%), Latin America (-4.05%) and Event Driven (-1.29%).
For the year, Short Biased (30.70%) leads all strategies while Distressed (-17.71%) brings up the rear, it said.
The better performing sectors were Information Technology (+7.57%), Consumer Discretionary (+5.61%) and Healthcare (+4.49%), while underperforming sectors were Energy (-4.04%), Materials (-0.74%) and Industrials (-0.01%).
For the month, global equities showed an increase across the board. The MSCI ACWI Index increased +0.70% (+0.45% YTD) and the MSCI EAFE Index decreased -2.19% (-4.32% YTD).
The MSCI Emerging Market Index increased -3.77% for the month (-8.38% YTD), while hedge fund managers outperformed the index. The Barclays Aggregate Bond Index increased +0.62% for the month (-0.99% YTD) as interest rates fell for the month.
The Merrill Lynch High Yield Master II Index increased +0.87% for the month, and high yield spreads increased 3 basi...................... To view our full article Click here
|
RSS
