Hedge funds slip back into negative territory
Hedge funds went back into negative territory in June, reversing their positive monthly returns in the month of May, according to Eurekahedge Hedge Fund Index data.
The sector posted minus 0.02 per cent in June, while the MSCI AC World Index lost 0.7 per cent due to uncertain risk appetites and some profit booking in mixed economic performance.
Fixed income funds delivered the highest returns of the sector of 2 per cent due to a strong high yield space and an upturn in European government bonds.
Equity players showed flat to positive returns during June and emerging market allocations returned 1.1 per cent on average.
Relative value hedge funds were up 1.6 per cent, while the managed futures sector dropped to minus 1.5 per cent. Macro hedge fund strategies were also down negative 0.26 per cent during the month.
Despite the sector’s inconsistent performance, there were net inflows of $4 billion during the month totalling $1.33 trillion in assets. More than 370 hedge funds were closed during the first half of this year, while 250 were launched during the same period.
Recommended for you
The Financial Services Council has appointed a new deputy chair for its board.
ASIC chair Joe Longo has told compliance professionals they need an “attitude of compliance” beyond written policies, how can AFSLs achieve this without alienating their advisers?
Peri and menopause training founder and TV journalist Shelly Horton has hit back at calls for businesses to introduce menopause leave.
Pendal has told investors it will start winding up its Enhanced Credit fund from December, its third fund closure this year.