Wednesday, 20 August 2014
Last updated 1 hour ago
Jul 10 2013 | 11:42am ET
All major hedge fund strategies registered declines in June, falling an average of 1.3% according to the latest data from eVestment.
The June results put hedge funds down 0.02% in the second quarter and up 3.2% through the first half of 2013.
Credit strategies posted their largest monthly loss since September 2011 and mortgage-focused funds had their worst month since the height of the financial crisis. Directional credit funds were down 1.56%. Macro funds were down even further, losing 1.69%, a loss eVestment said seems to be attributable to a treasuries’ swoon.
Directional equity strategies underperformed the S&P 500 in June, but eVestment identifies losses from dedicated emerging market equity focused strategies as the primary culprit. “With dedicated EM exposure removed, directional equity funds lost only -0.5% in June, were +1.5% in Q2 and +6.7% YTD 2013,” said eVestment VP Peter Laurelli.
Emerging market strategies experienced large losses in June with India funds down 8.45%, Emerging Europe funds down 3.05%, China funds down 2.96% and Brazil funds down 0.68%. India funds also posted the biggest losses YTD, down 14.55%.
Commodities posted another negative month in June, shedding 0.52%, putting them down 3.11% YTD. Laurelli said the group has produced aggregate losses in nine of the last 10 months.
Energy sector hedge funds were one of the few bright spots during the month. The group has returned an average of nearly 7% in 2013.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note