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Alternative Market Briefing

Hedge fund managers down 0.32% in September, bringing YTD to 5.6%, says Eurekahedge

Wednesday, October 09, 2019

Laxman Pai, Opalesque Asia:

Hedge fund managers were down as the Eurekahedge Hedge Fund Index lost 0.32% in September, dragging their year-to-date return to 5.67% despite the recovering investor risk sentiment, which pushed the global equity market up 2.04% over the month.

The MSCI ACWI (Local) is still up 14.89% as of September 2019 year-to-date.

Roughly 50.6% of the underlying constituents of the Eurekahedge Hedge Fund Index posted positive returns in September, and 25.9% of the hedge fund managers in the database were able to maintain double-digit returns over the first three quarters of 2019.

On an asset-weighted basis, hedge funds were up 0.28% in September, as captured by the Mizuho Eurekahedge Hedge Fund Index (USD). The index was up 4.34% over the first nine months of the year.

The Eurekahedge North American Hedge Fund Index edged 0.19% higher during the month, as the sell-off triggered by the impeachment inquiry against President Trump was outweighed by the gains made by US equities earlier in the month. The S&P 500 was still up 1.72% throughout the month.

The Eurekahedge Greater China Hedge Fund Index declined 0.90% in September, in spite of the gains posted by the Hang Seng and the mainland benchmark indices over the month. The withdrawal of the extradition bill in early September provided some support for Hong Kong's equity market, but proved ineffective in alleviating the tense situation as the protests continued to escalate.

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