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Alternative Market Briefing

Hedge funds outperform the global equity market in September

Wednesday, October 14, 2020

Laxman Pai, Opalesque Asia:

Hedge fund managers were down 0.57% in September, outperforming the global equity market by 2.14% throughout the month.

"The Eurekahedge Hedge Fund Index was down 0.57% in September 2020, outperforming the global equity market as represented by the MSCI ACWI (Local), which lost 2.71% over the same period," said a press release from Eurekahedge.

On a year-to-date basis, global hedge funds were up 3.44%, with around 62.3% of its underlying constituents having outperformed the global equity market over the first three quarters of 2020.

Eurekahedge's report revealed that Fund managers focusing in Europe were largely flat, outperforming their North American and Asia ex-Japan peers who were down 0.41% and 0.11%, respectively. Across strategies, event-driven, distressed debt, and arbitrage fund managers were up 0.82%, 0.55%, and 0.24% respectively throughout the month.

Roughly 42.5% of the underlying constituents of the Eurekahedge Hedge Fund Index posted positive returns in September, and 22.3% of the hedge fund managers in the database were able to maintain double-digit returns over the first three quarters of 2020.

On an asset-weighted basis, hedge funds were down 1.50% in September, as captured by the Eurekahedge Asset Weighted Index - USD. The index is currently down 2.17% year-to-date highlighting the struggles for some of the larger asset managers this year.

The Eurekahedge Greater China Hedge Fund Index was down 1.......................

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