Major market dislocations in August, as investors pulled risk firmly off the table by dumping equity positions on the back of ongoing economic woes, meant that UCITS
Major market dislocations in August, as investors pulled risk firmly off the table by dumping equity positions on the back of ongoing economic woes, meant that UCITS strategies across the board (bar one, commodities) incurred loses. The UCITS Alternative Index Global ended the month down 1.81 per cent leaving it down 2.55 per cent YTD. By comparison, Hedge Fund Research’s HFRX Global Hedge Fund Index is down 6.17 per cent in 2011, so things should be kept in perspective. Moreover, global markets fell far greater than UCITS funds: the S&P 500 Index alone fell 5 per cent; at one stage, on 8 August it was down 13 per cent. Within the UCITS fund space, Emerging Markets was by far the biggest loser in August. The strategy was down 4.7 per cent putting it at -5.3 per cent YTD. Equity l/s (-2.8 per cent), Fund of Funds (-2.1 per cent) and Event-Driven (-2 per cent) funds also found conditions tough going.
