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Alternative Market Briefing

Hedge funds continue the positive run for the third consecutive month in June

Thursday, July 09, 2020

Laxman Pai, Opalesque Asia:

Hedge funds advanced in June for the third consecutive month, concluding a volatile 1H20 defined by a steep 1Q global equity market decline driven by the global coronavirus pandemic followed by a mixed 2Q recovery despite ongoing virus concerns and challenges, said according to Hedge Fund Research Inc.

The investable HFRI 500 Fund Weighted Composite Index gained +1.5% in June, driven by advances in Equity Hedge and Event-Driven strategies, narrowing the 1H decline to -2.4%, and topping the decline of the DJIA by nearly 700 basis points (bps) through the first six months of the year, it said.

Meanwhile, The HFRI Fund Weighted Composite Index gained +1.9% in June, reducing the 1H20 decline to -3.5%, as 1H20 performance was led by Technology, Currency, and Healthcare strategies.

HFRI Equity Hedge (Total) Index gains +3.0% in June

Equity Hedge (EH) led industry performance in June as global equities advanced despite ongoing coronavirus risks as well as social unrest and protests.

The HFRI Equity Hedge (Total) Index gained +3.0% for the month, concluding 2Q20 with a strong +13.6% return, while the investable HFRI 500 Equity Hedge Index advanced +2.9% in June.

Equity Hedge sub-strategy performance was led by Technology exposure, with the HFRI EH: Technology Index surging +7.3% for the month, bringing the 1H20 return to +12.7%, leading all sub-strategies.

The volatile HFRI EH: Energy/Basic Materials Index continued its......................

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