Macro, Managed Futures Performance A Drag On Hedge Fund Biz

Given the broadly positive returns posted in July, the beginning of H2 2018 would appear to have been a positive one. However, the good performance is overshadowed at the aggregate level by underperformance from macro and managed futures products according to the just-released July 2018 eVestment Hedge Fund Performance Report. Nearly 63% of reporting products produced gains in July, yet eight of ten largest products declined in the same month.

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Managed Futures

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Overall, hedge funds returned an average of +0.59% in July and +0.79% through the first seven months of 2018.

Other interesting points from the new report include:

  • Quant equity strategies rebounded in July returning +2.25% for the month and turning back positive for the year from -1.27% YTD in June to +0.86% in July.
  • Among primary strategies, Macro funds as well as Managed Futures funds are among the biggest losers for the month, returning -0.07% and -0.60% respectively in July.
  • China-focused funds posted their second consecutive large loss returning -3.34% in July, now down for the year at -4.28% YTD.

I’ve attached a full copy of the report for your reference. Do let me know if you have any questions or would like to speak to the report author Peter Laurelli, eVestment’s global head of research.

To download a full copy of the report, please click here.

Article by eVestment


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