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Laxman Pai, Opalesque Asia: The global outbreak of COVID-19 and falling oil prices hit hedge funds hard in February, said Preqin.
The Preqin All-Strategies Hedge Funds benchmark suffered significant losses (-2.21%) in February, compared to January's modest gains (+0.62%), caused by the global outbreak of COVID-19 and falling oil prices.
Funds of all top-level strategies and currencies, and of all sizes, generated negative returns; CTAs were least affected, returning -0.27%.
UCITS and alternative mutual funds suffered the most, returning -2.61% and -3.46% respectively.
All top-level strategies struggled to navigate difficult markets in February; macro strategies returned the highest at -0.18%.
This dropped the YTD and 12-month return to +0.10% and +7.60% respectively. In contrast, event-driven (-3.03%) and equity (-3.16%) strategies suffered the most significant losses.
All top-level currencies tracked by Preqin made losses in February.
Hedge funds denominated in EUR fared the best (-1.87%) and GBP-denominated funds the worst (-3.90%). On a 12-month basis, BRL-denominated hedge funds are the best performing currency (+9.65%) followed by USD-denominated hedge funds (+4.09%).
Small hedge funds returned -1.87% in February, compared to emerging hedge funds' return of -2.57%. This dropped their 12-month returns to +5.71% and +3.57% respectively.
Despite this, emerging hedge funds are still outdoing medium-sized hedge funds, which have a 12-month retu...................... To view our full article Click here
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