Hedge funds continued their strong performance in July, with the Preqin All-Strategies Hedge Fund benchmark gaining 3.29 per cent, compared to June’s +2.53 per cent. This brought the YTD performance into positive territory (+2.88 per cent), and pushed the 12-month return to +5.46 per cent.
Equity strategies were the best performing top-level strategy tracked by Preqin in July, posting returns of +3.28 per cent, the same as in June. Global equities markets have recovered to almost record levels for some indices, aiding returns. Event driven strategies were the next best performing (+3.15 per cent), while credit strategies lagged (+1.35 per cent).
USD-denominated hedge funds posted the strongest returns of all top-level currencies tracked by Preqin in July (+3.86 per cent). BRL-denominated funds were close behind (+3.72 per cent), while hedge funds denominated in GBP delivered returns of -0.04 per cent, resulting in a negative -3.28 per cent performance YTD.
Following losses across all CTA strategies in June (-0.68 per cent), July marked a significant recovery, with returns ranging from +2.47 per cent (CTA – EUR) to +5.44 per cent (discretionary). YTD returns are positive for all CTA strategies save for euro-denominated funds (-0.02 per cent).
Discretionary CTAs are the strongest of all strategies YTD with returns of +9.07 per cent, and funds of CTAs the weakest (-4.21 per cent).
