Opalesque Industry Update - After three consecutive positive monthly results the UCITS HFS Index experiences a draw-down again, reporting losses of -0.41% in June 2016. The broad index started slowly into the month, posting marginal gains and losses of 0.02% and -0.05% in week one and two respectively. The biggest hit for the UCITS HFS Index surprisingly came not in the week of the Brexit referendum itself, but in the week before (week three) with losses of -0.49%. In the forth week of trading small losses of -0.08% proved that the majority of UCITS hedge funds anticipated potential risks of the Brexit referendum correctly, with the last days of trading in June even adding 0.19% performance in week five. Of all funds tracked 37.20% reported gains in June 2016. From a sub-strategy perspective five of the twelve strategies reported positive results in June, the top performers being CTA (1.75%), Commodity (1.73%) and Fixed Income (0.56%). All three strategies benefited from the market turmoil after the Brexit referendum, but CTA and Commodity also posted high returns in the first half of month compared all other UCITS hedge funds. The worst performing strategies in June were Global Macro (-2.33%), L/S Equity (-1.27%) and Market Neutral (-0.64%). While the latter took more losses in the market turmoil after the British referendum to leave the EU, the other two took their biggest weekly loss in the week before the referendum and only were slightly negative thereafter. Still seven strategies remain negative for 2016, the worst performer now being Global Macro (-3.73%) before L/S Equity (-3.14%). The best performer by far this year remains Commodity (5.19%). From a year to date perspective the broad UCITS HFS Index now stands at -0.79% in 2016. The UCITS HFS Index Series is the first index family that tracks all UCITS funds using hedge fund strategies. The UCITS HFS Index Series includes all UCITS funds that apply absolute return strategies, have more than 10 Mio. € of assets under management, offer at least weekly liquidity and have reported numbers for more than one month. Index tracking funds, long-only and 130/30 strategies are excluded. |
Industry Updates
UCITS HFS Index takes hit amidst Brexit vote, down -0.41% in June 2016
Monday, July 18, 2016
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