Hedge fund managers up 1.82% in June on the back of the US-China trade talk optimism |
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The Eurekahedge Hedge Fund Index rallied 1.82%1 in June, supported by the strong equity market performance on the back of optimism over the progress of US-China trade talk. Despite mixed economic data during the month, trade optimism and dovish central bank posturing saw the MSCI ACWI (Local) post gains of 5.41%. Returns were positive across geographic mandates in June, with North American fund managers gaining 2.11% and Asia ex-Japan fund managers up 2.18%. Fund managers utilising equity long-bias strategies gained 3.06% throughout the month, bringing their year-to-date return to 10.56%. |
Below are the key highlights for the month of June 2019 |
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Index of the Month | Jun 2019* |
2019 Returns | 2018 Returns |
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Eurekahedge Equity Long Bias Hedge Fund Index | 3.06 | 10.56 | -9.39 |
Main Indices
Main Eurekahedge Indices | Jun 2019* |
2019 Returns | 2018 Returns | |
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Eurekahedge Hedge Fund Index | 1.82 | 5.81 | -3.99 | |
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1.60 | 6.10 | -4.43 | |
Eurekahedge Long-only Absolute Return Fund Index | 3.48 | 10.74 | -10.90 | |
Eurekahedge Islamic Fund Index | 2.39 | 6.88 | -4.70 |
Regional Indices
Eurekahedge Regional Indices | Jun 2019* |
2019 Returns | 2018 Returns |
---|---|---|---|
Eurekahedge North American Hedge Fund Index | 2.11 | 7.26 | -3.06 |
Eurekahedge European Hedge Fund Index | 0.78 | 3.79 | -4.89 |
Eurekahedge Eastern Europe & Russia Hedge Fund Index | 5.73 | 12.65 | -12.86 |
Eurekahedge Japan Hedge Fund Index | 1.41 | 3.13 | -9.32 |
Eurekahedge Emerging Markets Hedge Fund Index | 2.93 | 7.58 | -5.21 |
Eurekahedge Asia ex Japan Hedge Fund Index | 2.18 | 6.53 | -9.08 |
Eurekahedge Latin American Hedge Fund Index | 2.88 | 8.08 | 7.15 |
North American fund managers were up 2.11% in June, bringing their year-to-date return to 7.26%. The region’s equity and bond markets rallied on trade optimism and expectations of an impending Fed rate cut. Over in Asia, fund managers with Asia ex-Japan investment mandate ended the month up 2.18%, bringing their year-to-date gain to 6.53%. The development of the US-China trade conflict and economic growth will remain as key concerns for the region’s equity markets for the rest of the year. Fund managers focusing on Europe were up a modest 0.78% in June, supported by the region’s strong equity market performance following expectations that further monetary policy easing may come from ECB.
Strategy Indices
Returns were mostly positive across strategic mandates in June. Long-biased equity hedge funds gained 3.06% during the month on the back of the global equity market rally. Returns were mixed among the CBOE Eurekahedge Volatility Indexes, with tail risk and short volatility mandates posting gains. Long volatility and relative value volatility mandates were down 0.64% and 0.14% respectively in June. On a year-to-date basis, equity long-bias mandate maintained its place at the top of the strategy return map with 10.56% gain over the first half of the year.
Table 1: Strategy return map
Eurekahedge Strategy Indices | Jun 2019* |
2019 Returns | 2018 Returns |
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Eurekahedge Arbitrage Hedge Fund Index | 0.29 | 2.55 | -0.85 |
Eurekahedge CTA/Managed Futures Hedge Fund Index | 2.44 | 4.36 | -3.92 |
Eurekahedge Distressed Debt Hedge Fund Index | 0.20 | 2.09 | 2.72 |
Eurekahedge Event Driven Hedge Fund Index | 1.52 | 6.37 | -3.18 |
Eurekahedge Fixed Income Hedge Fund Index | 0.95 | 4.91 | 0.06 |
Eurekahedge Long Short Equities Hedge Fund Index | 1.90 | 6.65 | -6.27 |
Eurekahedge Macro Hedge Fund Index | 2.24 | 5.45 | -2.62 |
Eurekahedge Multi-Strategy Hedge Fund Index | 1.49 | 4.96 | -3.66 |
Eurekahedge Relative Value Hedge Fund Index | 1.55 | 5.06 | -0.47 |
CBOE Eurekahedge Long Volatility Hedge Fund Index | -0.64 | -6.84 | 0.83 |
CBOE Eurekahedge Relative Value Volatility Hedge Fund Index | -0.14 | 0.69 | -3.91 |
CBOE Eurekahedge Short Volatility Hedge Fund Index | 0.50 | 1.91 | -13.03 |
CBOE Eurekahedge Tail Risk Hedge Fund Index | 9.37 | 5.34 | -5.75 |
Eurekahedge Equity Long Bias Hedge Fund Index | 3.06 | 10.56 | -9.39 |
Eurekahedge Equity Market Neutral Hedge Fund Index | 0.87 | 1.37 | -1.90 |
Eurekahedge Trend Following Index | 2.99 | 6.06 | -7.06 |
Eurekahedge FX Hedge Fund Index | -0.18 | 0.85 | -0.25 |
Eurekahedge Commodity Hedge Fund Index | 1.51 | 2.68 | -5.93 |
Eurekahedge Crypto-Currency Hedge Fund Index | 13.85 | 100.59 | -68.40 |
Eurekahedge AI Hedge Fund Index | 5.65 | 5.34 | -5.05 |
Eurekahedge ILS Advisers Index | 0.03 | -1.41 | -3.92 |
Eurekahedge Global Hedge Fund Indices by Fund Size | Jun 2019* |
2019 Returns | 2018 Returns |
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Eurekahedge Small Hedge Fund Index (< US$100m) | 2.10 | 6.15 | -4.73 |
Eurekahedge Medium Hedge Fund Index (US$100m - US$500m) | 1.48 | 5.16 | -3.04 |
Eurekahedge Large Hedge Fund Index (> US$500m) | 1.37 | 5.11 | -2.49 |
Eurekahedge Billion Dollar Hedge Fund Index | 1.13 | 4.40 | -2.58 |
Mizuho-Eurekahedge Indices | Jun 2019* |
2019 Returns | 2018 Returns |
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Mizuho-Eurekahedge Index - USD | 1.94 | 4.08 | -4.30 |
Mizuho-Eurekahedge TOP100 Index - USD | 1.56 | 3.39 | -2.71 |
Mizuho-Eurekahedge TOP300 Index - USD | 1.80 | 3.88 | -3.56 |
Asia-Eurekahedge Indices | Jun 2019* |
2019 Returns | 2018 Returns |
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Eurekahedge Greater China Hedge Fund Index | 4.31 | 10.22 | -12.73 |
Eurekahedge India Hedge Fund Index | 0.18 | 2.36 | -8.06 |
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