After a solid performance in July, the UCITS HFS Index has continued its recovery with a gain of 0.12 per cent in August 2016.
The broad index started positively into the month with a performance of 0.12 per cent in week one.
The second week saw the UCITS HFS Index rise 0.25 per cent, before the momentum shifted in the second half of the month. Week three caused a decline of 0.25 per cent, while the last one-and-a-half weeks of trading added a further loss 0.02 per cent.
Of all funds tracked 63.09 per cent reported gains in August 2016.
From a sub-strategy perspective eight of the 12 strategies reported positive results in August, the top performers being credit (0.84 per cent), global macro (0.51 per cent) and convertible (0.37 per cent). While the latter only took a small loss in week one, global macro had to take a loss in the first and the third week of trading.
Credit showed a solid performance and was the only strategy to report gains every single week of the month.
The three worst performing strategies in August were commodity (-1.11 per cent), CTA (-0.74 per cent) and arbitrage (-0.14 per cent). While the latter’s performance was slightly negative every week except week one, the other two strategies took heavy losses at the end of the month in particular.
Six strategies remain negative for 2016, the worst performer still being global macro (-2.11 per cent). The best performer by far this year remains commodity (4.43 per cent), although credit started to catch up (3.38 per cent).
From a year to date perspective the broad UCITS HFS Index turned positive again now stands at 0.08 per cent in 2016.
