Hedge Funds Dropped 1.8% In June - ValueWalk Premium

Hedge Funds Dropped 1.8% In June

PivotalPath has released their monthly report, the Pivotal Point Of View, which measures performance among more than 2,500 institutionally-relevant hedge funds, as well as 40+ different hedge fund strategies and $2.5T in total industry assets. The big takeaway at the end of Q2: The PivotalPath Composite Index is down the most since March 2020, yet the cumulative spread over the S&P YTD has surpassed 19%. While everyone is down, being only down slightly can be considered a win.

Q2 2022 hedge fund letters, conferences and more

Below are a few quick highlights.

  • The Pivotal Composite Index’s drop of 1.8% in June was its worst monthly return since March of 2020, though far from the 7.6% drop that month. To put this in context however, the Composite’s (cumulative) spread above the S&P 500 YTD increased above 19%.
  • The equity sector focused PivotalPath Healthcare Index and Technology Media and Telecom Index have both been competing for the biggest loser title in 2022 – after vying for the biggest winners most of the past decade.
  • Food, Beverage, and Travel are defining the stock market right now. The PivotalPath Social Distance Losers Basket – which includes Darden Restaurants, Marriott and Delta – has a 0.84 correlation to the PivotalPath Composite Index, the highest of among over 250 risk factors and benchmarks.

PivotalPath Composite Index

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