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Laxman Pai, Opalesque Asia: Hennessee Hedge Fund Index decreased -1.20% for the month (+6.99% YTD), while the S&P 500 was down -1.81% (+16.73% YTD), the Dow Jones Industrial Average decreased -1.87% (+13.00% YTD), and the NASDAQ Composite Index lost -2.60% (+20.00% YTD).
Bonds were positive for the month, as the Barclays Aggregate Bond Index increased by +2.59% (+9.11% YTD), said Hennessee Group.
According to the report, the top three strategies for the month were Convertible Arbitrage (+1.37%), Market Neutral (+1.36%) and Opportunistic (+1.04%).
While, the bottom three strategies for the month were Emerging Markets (-10.27%), Europe (-7.38%) and Latin America (-6.46%). For the year, Latin America (+15.44%) leads all strategies while Short Biased (-4.75%) brings up the rear.
Hennessee Long/Short Equity Index lost -0.95%
Equity long/short hedge funds were negative for the month, as the Hennessee Long/Short Equity Index lost -0.95% (+9.29% YTD).
The better-performing sectors were Utilities (+5.24%), Consumer Staples (+1.92%) and Healthcare (-0.73%). While underperforming sectors were Energy (-9.53%), Financials (-6.01%) and Industrials (-3.57%).
The Hennessee Arbitrage/Event Driven Index decreased by -0.74% for the month (+5.44% YTD). The Barclays Aggregate Bond Index increased +2.59% for the month (+9.11% YTD) as interest rates decreased for the month.
The Merrill Lynch High Yield Master II Index increased +5.09% for the month,...................... To view our full article Click here
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