Mon, Aug 15, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge fund managers down 0.27% in July

Wednesday, August 25, 2021
Opalesque Industry Update - Hedge fund managers were down 0.27% in July, trailing behind the global equity market as represented by the MSCI ACWI (Local) which gained 0.40% during the month. In terms of 2021 performance, global hedge funds were up 7.85%, recording the strongest July year-to-date return since 2009 despite the ongoing pandemic. Around 81.8% of the constituents of the Eurekahedge Hedge Fund Index generated positive returns in 2021.

On an asset-weighted basis, hedge funds were down 0.45% in July, as captured by the Eurekahedge Asset Weighted Index - USD. In terms of 2021 performance, the index is only up 3.57%, highlighting the struggles for some of the larger asset managers over the year.

The Eurekahedge North American Hedge Fund Index returned -0.23% in July, trailing behind the S&P 500 and DJIA which returned 2.27% and 1.25% respectively. In terms of 2021 performance, North American hedge funds have returned 11.01% - posting the highest 2021 YTD return among the regional indices.

The Eurekahedge European Hedge Fund Index returned 0.61% in July supported by the positive performance of the pan-European Euro Stoxx 50 which returned 0.62%. The increasing share of people fully vaccinated against COVID-19 boosted hopes that lockdowns would not be necessary despite the rising cases of the Delta variant. In terms of 2021 performance, European hedge funds have returned 6.66% - posting the second highest 2021 YTD return among the regional indices.

The Eurekahedge Asia ex Japan Hedge Fund Index returned -1.18% in July, strongly outperforming the MSCI AC Asia Pacific Ex Japan Index which returned -5.32%. Asia ex-Japan equities were negatively impacted in July after a crackdown by Chinese authorities on technology and education companies caused Chinese equities to decline sharply - the CSI 300 and Hang Seng Index posted returns of -7.90% and -9.94% respectively. In terms of 2021 performance, Asia ex-Japan hedge funds have returned 6.56% - posting the third highest 2021 YTD return among the regional indices.

The Eurekahedge Distressed Debt Hedge Fund Index gained 1.04% in July, extending their streak of consecutive positive monthly returns to ten months. In terms of 2021 performance, distressed debt hedge funds outperformed all of their main strategic peers and were up 11.45%, recording their strongest July year-to-date return since 2009.

The Eurekahedge CTA/Managed Futures Hedge Fund Index returned 0.45% in July, supported by the strong return of the S&P GSCI Index which returned 1.57%. Industrial metals was the best performing component in July, posting a return of 3.52% while precious metals posted a return of 1.81%. In terms of 2021 performance, CTA/managed futures hedge funds have returned 6.35%, underperforming the S&P GSCI Index which have returned 33.47% over the first seven months of 2021.

The Eurekahedge Event Driven Hedge Fund Index returned -0.93% in July, ending their 15-month winning streak that began in April 2020. In terms of 2021 performance, event driven hedge funds have returned 9.74% - posting the second highest 2021 YTD return among the main strategy indices.

The Eurekahedge Long Short Equities Hedge Fund Index returned -0.69% in July, ending their 9-month winning streak that began in October 2020. In terms of 2021 performance, long short equities hedge funds have returned 9.60% - posting the third highest 2021 YTD return among the main strategy indices.

Fund managers focusing on cryptocurrencies were up 9.85% in July as tracked by the Eurekahedge Crypto-Currency Hedge Fund Index, trailing behind Bitcoin which gained 14.50% over the same period. In terms of 2021 return, cryptocurrency hedge funds have gained 103.18%, outperforming Bitcoin which returned 43.06% over the first seven months of the year.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: https://bit.ly/DXCInfo Castle Hall, the Du