Managed Futures Funds Lead Hedge Funds Higher in July |
Date: Tuesday, August 9, 2011
Author: Greenwich Global Hedge Fund Index
Stamford, CT, USA, August 8, 2011 – Hedge funds as measured by the Greenwich Global Hedge Fund Index ("GGHFI") posted mixed results among strategies but generally finished the month with gains. The GGHFI advanced 0.67% compared to global equity returns in the S&P 500 Total Return (-2.03%), MSCI World Equity (-1.89%), and FTSE 100 (-2.20%) equity indices. 56% of constituent funds in the GGHFI ended the month with gains.
"Hedge funds turned in an excellent month of relative performance when compared to equity and fixed income benchmarks," notes Clint Binkley, Senior Vice President. "Results from Long-Short Equity and Directional Trading managers show that funds were prepared for market declines. We continue to expect hedge funds to outperform long only strategies in this volatile market environment."
Hedge Fund Strategy Highlights
Managed Futures and Global Macro funds lead hedge fund strategies, gaining 3.04% and 2.19%, respectively
Long-Short Equity managers decline 28 basis points, a fraction of global equity index moves
Market Neutral funds fall marginally, declining 0.23%
Developed market funds slightly outperform Emerging Market managers; Developed North America remains the winner for the year, up 2.5%
| Strategy Group Summary |
July
Return |
YTD Return |
| Greenwich Global Hedge Fund Index | 0.67% | 1.20% |
| Market Neutral Group | -0.23% | 1.57% |
| Equity Market Neutral | -0.38% | -0.16% |
| Event Driven | -0.40% | 2.18% |
| Distressed Securities | 0.64% | 4.45% |
| Merger Arbitrage | -0.69% | 1.71% |
| Several Strategies | -0.71% | 1.06% |
| Arbitrage | 0.04% | 1.30% |
| Convertible Arbitrage | -0.44% | 1.15% |
| Fixed Income Arbitrage | 0.13% | 3.87% |
| Other Arbitrage | 0.45% | -2.23% |
| Long-Short Equity Group | -0.28% | 0.48% |
| Growth | -0.56% | 0.79% |
| Opportunistic | 0.17% | 0.13% |
| Short-Biased | 1.65% | -0.41% |
| Value | -0.39% | 0.57% |
| Directional Trading Group | 2.84% | 0.47% |
| Futures | 3.04% | -0.04% |
| Macro | 2.19% | 1.13% |
| Specialty Strategies Group | 0.52% | 2.81% |
| Long-Short Credit | 1.13% | 6.01% |
| Multi-Strategy | 0.16% | 0.75% |