Hedge Funds lost 0.31 per cent in June according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 0.62 per cent increase in the S&P 500 Total Return Index. Year to date, the Barclay Index is up 0.69 per cent, while the S&P has gained 2.66 per cent.
“Although US equity prices rose in June, almost all of the MSCI regional indices lost ground, and most hedge fund strategies ended the month with losses as well,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Twelve of Barclay’s 17 hedge fund indices had losses in June, while five had gains. Emerging Markets gave up 2.55 per cent in June, Equity Market Neutral was down 1.22 per cent, Pacific Rim Equities lost 0.58 per cent, the Multi Strategy Index was down 0.53 per cent and Fixed Income Arbitrage gave up 0.47 per cent.
“After registering 14 consecutive profitable months through January 2018, Emerging Market funds have dropped 8.32 per cent with five straight months of losses,” says Waksman.
On the positive side, Healthcare & Biotechnology gained 1.81 per cent in June, Distressed Securities were up 1.52 per cent, Merger Arbitrage added 1.15 per cent, and the Event Driven Index was up 0.92 per cent.
At the end of June, 13 hedge fund indices still have gains, while four have losses. The Healthcare & Biotechnology Index continued its strong 2018 performance, and is now up 9.80 per cent for the year. The Technology Index has gained 7.74 per cent, Distressed Securities are up 5.97 per cent, and European Equities have gained 2.51 per cent.
The Emerging Markets Index has a year-to-date loss of 4.44 per cent, Pacific Rim Equities are down 2.36 per cent, and Global Macro has lost 0.94 per cent.
The Barclay Fund of Funds Index was down 0.36 per cent in June, but remains up 0.60 per cent for the year.
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