After a drawdown in June due to the market turmoil surrounding the Brexit vote, the UCITS HFS Index bounced back in July, reporting gains of 0.75 per cent.
The broad index started the month with a positive performance of 0.32 per cent after the first full week of trading. Maintaining that momentum, week two brought additional gains of 0.30 per cent.
The UCITS HFS Index slowed down in the second half of the month, but week three and four still saw the increases of 0.11 per cent and 0.03 per cent, respectively. Of all funds tracked 76.23 per cent reported gains in July 2016.
From a sub-strategy perspective, 10 of the 12 strategies reported positive results in July, the top performers being L/S equity (1.36 per cent), global macro (1.17 per cent) and credit (1.03 per cent). While the latter added gains week by week evenly distributed, global macro had to take a loss in the last week of trading. Together with L/S equity it showed a strong performance in week two in particular, though.
The two strategies in the red in July were currency (-0.18 per cent) and arbitrage (-0.08 per cent). While the latter’s performance was flat in the last week and only positive in the first full week of trading, currency reported only negative weekly results except for week one.
Seven strategies remain negative for 2016, the worst performer still being global macro (-2.60 per cent). The best performer by far this year remains commodity (5.50 per cent), which added another 0.30 per cent of gains in July. From a year to date perspective the broad UCITS HFS Index now stands at -0.04 per cent in 2016.
