Greenwich Investable Hedge Index Advances In July
Tuesday, August 31, 2010
The Greenwich Composite Investable Index gained 0.74% during July as higher
than expected corporate earnings pushed equity markets higher.
Seven of nine Greenwich Investable Indices moved higher on the month, with
results mixed across strategies, Greenwich Alternative Investments announced
August 27.
The Greenwich Investable Long-Short Equity Index was the best performer for
the month, gaining 1.63%. The Greenwich Investable Arbitrage Index posted the
second best results, advancing 1.10%.
Laggards on the month were Futures and Equity Market Neutral Managers as those
Investable Indices lost nine and 17 basis points on the month, respectively.
Year-to-date, Fixed Income strategies still lead other Investable Indices,
with Event-Driven, Long-Short Credit, and Arbitrage Indices netting returns
of 6.13%, 4.02%, and 4.64%, respectively.
“The rally in equities during July caught many market participants off-guard.
A large percentage of hedge fund managers had reduced net exposure going into
the month in anticipation of weak corporate earnings and a follow-through to
June’s sell-off.” noted Clint Binkley, Senior Vice President.
"Fixed Income-based strategies continue to perform well and all of the
Greenwich Investable Indices are ahead of the MSCI World Equity Index on a year-to-date
basis. As markets continue to exhibit increased volatility, hedge funds should
continue to outperform," Binkley added.
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