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Alternative Market Briefing Weekly

Opalesque Roundup: Hedge funds' overall performance edges up for the eighth consecutive month: hedge fund news, week 23

Saturday, June 12, 2021

In the week ending June 11th 2021, HFRI revealed that hedge funds extended performance gains in May for the eighth consecutive month as investor optimism accelerated regarding the US economic reopening and despite signs of building inflationary pressures in the US and Europe. The HFRI Fund Weighted Composite Index (FWC) gained +1.7 percent in May, while the investable HFRI 500 Fund Weighted Composite Index advanced +1.5 percent, according to data released today by HFR, the established global leader in the indexation, analysis and research of the global hedge fund industry.

The Eurekahedge Hedge Fund Index was also up 1.10% in May 2021, supported by the robust performance of the global equity market as represented by the MSCI ACWI (Local) which gained 0.83% over the same period. Headline inflation rose to 4.2% year on year in April, the highest level since September 2008 and caused concerns among investors that this could prompt the Federal Reserve to tighten monetary policy. Despite the higher inflation figure, the Federal Reserve has signalled that interest rates will be increased only after the economy has made rapid progress toward the committee's goals.

Bridgewater extended its gains in May, a month that one macro manager described as "tricky", while the first quarter of 2021 may go down in markets as "a memorable one we'd like to forget," as Kingsford Capital Management's Mike Wilkins puts it.

In new launches, just three months after investor Bill Hwang's investment firm imploded - leaving Wall Street with billions of dollars in losses - two Archegos Capital staffers are gearing up to test the strategy all over again; Gordian Capita......................

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