Aussie Hedge Funds Rise 3.6%, Led By Equity Strats.

Aug 13 2009 | 12:06pm ET

Like their counterparts around the world, Australian hedge funds gained ground for the fifth straight month in July. And just like their global peers, they badly trailed the month’s equities rally.

Down Under hedge funds advanced 3.6% last month, according to early estimates from the Australian Fund Monitors Index. Aussie hedge funds are up 11.4% this year.

But the Australian stock market did better—much better—in July than did the country’s hedge funds: The S&P/ASX 200 Index rose 7.3% on the month. Unsurprisingly, this buoyed equity-based hedge fund strategies in a big way.

“Equity-based funds are just shy of recouping all their losses of the past 12 months,” AFM CEO Chris Gosselin told Bloomberg News.

Indeed, they even topped the equities markets, with equity long/short funds returning 7.9% in July. But contrast, equity income funds took a beating, dropping 6.4% on the month.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of