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Hedge funds record strongest H1 return since 2009 led by event driven, long short equities and distressed debt hedge funds

Friday, July 30, 2021
Opalesque Industry Update - Hedge fund managers ended the month of June up 0.25% on an equal-weighted basis, and down 0.90% on an asset-weighted basis, said Eurekahedge.

The progressive relaxation of Covid-related mobility restrictions in most developed markets provided support to the reopening of their economies, benefitting the global equity market as represented by the MSCI ACWI (Local) which gained 1.93% in June.

On a year-to-date basis, global hedge funds were up 8.07% over the first 6 months of 2021, recording the strongest June year-to-date return since 2009 despite the ongoing pandemic.

Returns were mostly positive across geographic mandates in June with North American and Asian hedge funds gaining 1.10% and 0.70% respectively while European hedge funds were down 0.08%.

Across strategies, distressed debt and long short equities outperformed their strategic peers with returns of 1.48% and 0.62% respectively.

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