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Alternative Market Briefing

Opalesque Roundup: Hedge funds gain in June, conclude a volatile H1: hedge fund news, week 28

Monday, July 13, 2020

In the week ending July 10th 2020, Hedge Fund Research Inc said that 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.

However, hedge funds in aggregate lost a record 7.9% in the first half of the year on an asset-weighted basis. None of the four major strategies made money as the industry struggled to trade with the Covid-19 pandemic convulsing global markets. Event-driven funds were the worst performers, losing 9.6%. Relative-value funds posted the smallest decline, at 5.1%. The losses for the period were the steepest ever in data going back to 2008.

Lyxor Peer Groups suggest hedge fund performance was up +0.6% in June, with CTAs underperforming (-1%) and Directional L/S Equity, L/S Credit and Special Situation strategies outperforming (+1.2% to +1.5%).

In new launches, the global real estate investment manager, Patrizia AG announced the final close of its seventh flagship trans-European real estate fund, Trans-......................

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