Latest figures released by the UCITS Alternative Index Global show that it climbed +0.53 per cent last month, yielding an overall figure of -0.28% YTD. Of the 11 sub-indices, five were positive and six were negative. The two best performing indices were Emerging Markets (+1.68 per cent) and Event-Driven (+1.33 per cent). The former is still down -0.51 per cent YTD, the latter up +1.68 per cent. Fixed Income remains the standout performer this year, posting YTD returns of +2.73 per cent. Losses were minimal in July, the biggest (-0.35 per cent) coming jointly from Fund of Funds and CTA. Commodities continue to wallow, posting -4/86 per cent returns YTD.
Hedge Fund Research, using its HFRX (Ucits compliant) Global Hedge Fund Index, indicates a flatter -0.02% performance YTD thanks to July returns of +1.23 per cent. Although more encouraging than the UCITS Alternative Index, the figures show that Ucits-wrapped funds are suffering a drag on performance compared to traditional hedge funds: up +1.52% YTD according to HFR. The biggest movers last month were Equity Hedge (+2.28%) and Relative Value (+1.54%). Overall gains were offset by the HFRX Macro Index, which headed south -0.63% (-2.93% YTD).