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Currency funds perform as EuroHedge strategy indices turn positive

All hedge fund strategy areas registered positive returns in July for the first time since February, according to EuroHedge, a sister publication to EuromoneyFXNews.

The EuroHedge Composite index posted healthy gains in a generally much stronger month for European hedge funds. The index was up by 0.74% on a median basis for the month – and by 1.17% on a mean average basis – to take the index returns for the year-to-date to 2.14% and 2.56% respectively.

Managed futures funds led the way in a dramatic reversal of their poor performance in June, with the managed futures index gaining 3.5% – to put it back into the black for the year-to-date – and with several CTA strategies enjoying impressive returns on the month.

Emerging-market debt, emerging-market equity and global equity were the next best-performing strategy areas in July – all posting median gains of around 1% for the month – while the main European long/short equity medians were up by around 0.5%.

For the year-to-date, the best three performing strategies on a median basis are convertible arbitrage, credit and currency – while the medians for all strategy areas are now in positive territory for the year to the end of July as a result of last month’s strong performance.

With seven months of the year gone, there have been many strong individual performances, with a number of funds – large and small – notching up impressive double-digit returns across a wide range of strategies, including long/short equity, macro, credit, fixed-income, event-driven, multi-strategy, convertibles, managed futures and volatility trading.

The full EuroHedge median and mean indices table for July and for the year-to-date follows below, together with detailed performance round-ups on selected individual strategy areas.

For a comprehensive listing of all individual fund performance for the month, click here to see EuroHedge’s live league tables. The full July performance tables, as they would normally appear in EuroHedge, will be uploaded on to the website next week.

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