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Euerkahedge Hedge Fund Index down 0.71 per cent in May

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The Eurekahedge Hedge Fund Index was down 0.71 per cent in May, bringing its year-to-date return to 4.32 per cent. Roughly 15.0 per cent of the hedge fund managers comprising the index have recorded double-digit gains over the first five months of the year.

The global hedge fund industry AUM has grown by USD0.5 billion as of May 2019 year-to-date. Final Q1 2019 net outflows figure stood at USD46.4 billion, just under half of the investor redemptions totalling USD94.7 billion seen in the final quarter of 2018.

The Eurekahedge Asia ex Japan Hedge Fund Index was up 5.51 per cent year-to-date, supported by the recovering Asian equity markets throughout the first quarter of 2019. However, the return of the trade tension between the US and China posed as a headwind for fund managers focusing on the region. Investor redemptions from the mandate stood at USD4.2 billion over the first five months of the year.

North American hedge fund managers were down 1.22 per cent in May, as the region’s equity markets slumped under the US-China trade talk breakdown. On a year-to-date basis, the Eurekahedge North American Hedge Fund Index was up 5.28 per cent.

The Eurekahedge CTA/Managed Futures Hedge Fund Index declined 0.43 per cent in May, with mixed returns among its underlying regional mandates. Fund managers with long exposure to the energy sector suffered losses from the sharply falling oil prices which resulted from concerns over global economic slowdown. On the other hand, precious metals registered gains as the equity market volatility boosted demand for gold during the month. The strategic mandate has seen investor redemptions totalling USD10.6 billion year-to-date.

Fund managers utilising AI/machine learning strategies ended May down 3.70 per cent, registering their first monthly loss in 2019. On a year-to-date basis the Eurekahedge AI Hedge Fund Index was down 0.20 per cent.

The Eurekahedge ILS Advisers Index was down 0.84 per cent in May, bringing its year-to-date loss to 1.10 per cent. ILS hedge fund managers suffered considerable losses from the recent hurricane seasons in 2018 and 2017, during which the index was down 3.92 per cent and 5.60 per cent respectively. However, investor interest level has remained robust through the recent years, with an estimated USD18.9 billion of net allocations made into the ILS hedge fund space since the beginning of 2017.

The Eurekahedge Crypto-Currency Hedge Fund Index rallied 33.74 per cent in May, boosted by the rally in crypto assets which saw Bitcoin breaching the USD8,000 level for the first time since July last year. The index was up 68.79 per cent as of May 2019 year-to-date, recovering most of the losses it suffered in 2018

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