Hedge Fund Analysis (HFR) President Kenneth J. Heinz participates in a panel dialogue throughout the Skybridge Options (SALT) Convention in Las Vegas, Nevada Might, 9, 2012. SALT brings collectively public coverage officers, capital allocators, and hedge fund managers to debate monetary markets. REUTERS/Steve Marcus (UNITED STATES – Tags: BUSINESS)
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NEW YORK, Aug 5 (Reuters) – Hedge funds posted a 1.65% acquire in July, pushed by a inventory market rally which helped scale back their losses for the 12 months thus far, information supplier HFR mentioned on Friday.
“Led by excessive beta methods, hedge funds posted the strongest positive factors in 15 months, as highly effective risk-on sentiment drove a pointy reversal in fairness markets, whereas the U.S. economic system entered a recession and the US Federal Reserve raised rates of interest once more in an effort to sluggish generational inflation,” mentioned Kenneth J. Heinz, President of HFR.
For the 12 months thus far, hedge funds remained down 4.1%, the fund weighted composite index confirmed.
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Fairness hedge funds posted positive factors of two.89%, underperforming the S&P 500, which went up 9.11% final month. For the 12 months, fairness hedge funds had been down 9.2%.
Macro hedge funds, which commerce a broad vary of belongings, akin to bonds, currencies, charges, shares and commodities, had been down 1.07%, their third consecutive month of losses. Within the 12 months they remained the best-performing class, with positive factors of seven.36%.
Heinz mentioned fund managers have positioned funds to protect capital in addition to to grab alternatives to benefit from sudden shifts in macroeconomic situations.
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Reporting by Carolina Mandl in New York; Modifying by David Gregorio
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