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Hedge funds up 0.17 per cent in August, says Eurekahedge


The Eurekahedge Hedge Fund Index was up 0.17 per cent in August, bringing its year-to-date return to 6.58 per cent. Roughly 32.6 per cent of the hedge fund managers comprising the index have recorded double-digit gains over the first eight months of the year.

The global hedge fund industry AUM has declined by USD9.4 billion as of August 2019 year-to-date. Final Q2 2019 net outflows figure stood at USD40.0 billion, as investor redemptions continued to slow down. Hedge fund managers recorded USD46.4 billion and USD94.7 billion of net outflows in Q1 2019 and Q4 2018, respectively.
 
The Eurekahedge North American Hedge Fund Index was up 6.04 per cent year-to-date, as fund managers focusing on the region benefited from the equity market rally throughout the first eight months of the year. The S&P 500 has gained 16.78 per cent over the first eight months of 2019, while the tech-heavy NASDAQ Composite was up 20.01 per cent over the same period. North American hedge fund managers have recorded USD69.6 billion of performance growth year-to-date.
 
The Eurekahedge Greater China Hedge Fund Index lost 1.48 per cent in August, dragging its year-to-date gain to 8.31 per cent. The USD29.2 billion mandate has seen USD1.6 billion of performance growth, offset by USD0.4 billion of investor redemptions year-to-date.
 
The Eurekahedge CTA/Managed Futures Hedge Fund Index was up 2.22 per cent in August, with mixed returns among its underlying regional mandates. Preliminary data showed that CTA/managed futures fund managers have generated USD12.1 billion of performance growth in August. On a year-to-date basis the mandate's AUM has grown by USD18.6 billion, in contrast to the USD45.5 billion decline recorded over 2018.
 
Hedge fund managers utilising fixed income strategies ended the month of August up 0.17 per cent on the back of robust government and corporate bond markets. Dovish central banks and anticipations over further stimulus continued to push yields lower during the month. On a year-to-date basis, the Eurekahedge Fixed Income Hedge Fund Index has returned 5.80 per cent.
 
The Eurekahedge ILS Advisers Index was down 0.27 per cent in August, pushing its year-to-date loss to 0.97 per cent. Despite being a calm period of insurance losses, the first half of 2019 has seen ILS hedge fund managers crippled by loss creep from past events.
 
The Eurekahedge Crypto-Currency Hedge Fund Index was down 4.86 per cent in August, trailing behind Bitcoin which ended the month flat. On a year-to-date basis, crypto hedge fund managers have returned 54.83 per cent over the first eight months of 2019.

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