Long/short equity hedge funds continued to increase overall net exposures in July, enabling managers to capitalize on market upswings early in the month, according to Jordan Drachman, h
Long/short equity hedge funds continued to increase overall net exposures in July, enabling managers to capitalize on market upswings early in the month, according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse.
Drachman says: ‘As risk appetite returns to the market, many long/short equity hedge fund managers have increased their overall net exposures, which enabled them to generate positive returns as equity markets bounced back early in July. Despite mid-month volatility, managers were able to preserve gains to finish up for the month.’
The Credit Suisse Long/Short Equity Replication Index was up 1.96 per cent (net) for the month, while the Credit Suisse Global Macro Replication Index finished up 0.03 per cent (net) over the same period.
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