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Alternative Market Briefing

Emerging Markets hedge fund capital extends decline on Russia, inflation

Friday, September 16, 2022

Laxman Pai, Opalesque Asia:

Emerging Markets hedge funds extended 2Q declines through August, with losses again driven by exposure to Russian assets as well as the acceleration of global inflation, rising U.S. interest rates and slowing economic growth, said a study.

According to the HFR report, tracking unprecedented volatility concurrent with the ongoing military conflict in Ukraine, after falling more than -50 percent through April, the HFRI EM: Russia/Eastern Europe Index surged +26.8 percent over the following three months, paring the YTD decline to -37.4 percent through mid-3Q.

The report revealed that Russian assets had plunged in value as the stock exchange closed and the Rouble posted steep losses before regaining some of the losses as the Russian Stock Exchange partially reopened. In addition to these geopolitical risks, global inflationary pressures increased to generational highs and the U.S. Federal Reserve aggressively raised interest rates.

HFRI Emerging Markets (Total) Index posts first monthly gain for 2022 in August

After seven consecutive months of declines to start the year, the HFRI Emerging Markets (Total) Index posted its first monthly gain for 2022 in August, advancing +0.75 percent and paring the YTD decline to -12.5 percent, as reported today with the releases of the HFR Asian Hedge Fund Industry Report and the HFR Emerging Markets Hedge Fund Industry Report from HFR.

The investable HFRI 500 Fund Weighted Composite Index, ......................

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