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Alternative Market Briefing

CTA/Trend-following and Activist strategies lead broad-based hedge funds gains in June

Tuesday, July 09, 2019

Laxman Pai, Opalesque Asia:

The HFRI Fund Weighted Composite Index gained +2.6% for June 2019, the strongest month since January, increasing the Index Value to 14,408, a record level according to data released by HFR.

Hedge funds posted strong, broad-based gains in the month, with multiple and varied drivers of performance leading advances across a wide range of strategies.

The June gain recovers the decline from the prior month and brings 2019 performance to +7.6%.

The HFRI 500 Fund Weighted Composite Index, an investible index of 500 leading hedge funds, returned +1.9% for June. Liquid Alternatives also advanced in June, as the HFRI-I Liquid Alternative UCITS Index added +1.3% for the month, led by the HFRI-I Liquid Alternative UCITS Relative Value Index which returned +1.55%.

HFRI performance was led by Equity Hedge (EH) strategies, with the HFRI Equity Hedge (Total) Index gaining +3.2%, also the strongest month since January, bringing YTD 2019 performance to +9.4%. All EH sub-strategies advanced for the month, led by Quantitative, Growth and Technology exposures.

The HFRI EH: Quantitative Directional Index gained +3.9% for the month, while HFRI EH: Fundamental Growth Index advanced +3. % and HFRI EH: Technology Index jumped+4.0%.

HFRI Macro (Total) Index advances +2.5%

Macro strategies also posted strong returns in June, with the HFRI Macro (Total) Index advancing +2.5%, the strongest month since January 2018, with strong perf......................

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