Distressed funds

Distressed Funds End 21 Percent Winning Streak With Loss In June

Hedge funds ended a 7 month winning streak, losing 1.47% according to a new report from Eurekahedge. Distressed funds had an 11 month winning streak with a 21 percent gain, which ended in June with a loss, as well.

Distressed funds

Eurekahedge Strategy Indices Jun
2013*
2013 Returns 2012 Returns
Arbitrage -0.46 3.20 6.73
CTA/Managed Futures -1.14 -1.35 1.37
Distressed Debt -0.41 9.47 14.02
Event Driven -1.64 3.39 8.94
Fixed Income -1.54 1.83 10.70
Long/Short Equities -1.66 5.10 7.82
Macro -1.58 0.57 2.82
Multi-Strategy -2.20 1.02 7.90
Relative Value -0.75 2.75 10.56

Hedge Funds Recorded Negative Returns, Distressed Funds the Worst

Hedge funds recorded negative returns in June ending their seven month winning run, as global markets witnessed broad based declines during the month. The Eurekahedge Hedge Fund Index was down 1.47% in June, outperforming the MSCI World Index which lost by 3.10% during the month.

Key takeaways for the month of June 2013:

    • Hedge funds witnessed first losing month of the year, down 1.47% in June 2013
    • Japanese hedge funds outperformed underlying stocks, up by 0.15% in June and 17.38% year-to-date
    • Launch activity picks up with more than 300 funds launched so far in the year
    • Eurekahedge is currently tracking more than 500 funds that have delivered over 15% year-to-date and 250 funds that are up by over 20% year-to-date
    • Distressed debt funds end 11-month winning run after gaining 21% from June 2012 to May 2013, however, distressed funds are still the best performer by category
    • CTA/managed futures funds in negative territory for the year, down 1.35% year-to-date
  • Eurekahedge Global Hedge Fund Indices by Fund Size Jun
    2013*
    2013 Returns 2012 Returns
    Small (< US$100m) -1.42 2.16 5.73
    Medium (US$100m – US$500m) -1.52 3.24 7.01
    Large (> US$500m) -1.80 2.47 7.18
    Billion Dollar -1.71 2.93 8.37

     

    Mizuho-Eurekahedge Indices Jun
    2013*
    2013 Returns 2012 Returns
    Mizuho-Eurekahedge Index – USD -2.02 1.11 5.93
    TOP 100 Index – USD -2.13 1.36 6.46
    TOP 300 Index – USD -2.12 1.17 5.99

     

    Asia-Eurekahedge Indices Jun
    2013*
    2013 Returns 2012 Returns
    Greater China -5.19 4.81 13.38
    India -5.48 -7.82 12.62

Regional Indices

June witnessed a continuation of downside momentum from the end of May as markets reacted adversely to speculation about a slowdown in the FED’s bond buying operations. The S&P 500 (INDEXSP:.INX) was down 1.50% while the FTSE100 and Hang Seng index were down 5.58% and 7.10% respectively.

Full report on Distressed Funds here

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