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Largest Funds, Managed Futures Lag as Hedge Funds See Positive Returns
Overall, a strong month for hedge fund performance says north Atlanta-based eVestment.
It was another positive month for the global hedge fund industry as markets saw their eleventh consecutive month of aggregate gains in September, while developed markets finally outperformed emerging markets after months of underperformance, according to the just-released September 2017 eVestment Hedge Fund Performance Report.
Overall, more than 75% of the industry is in positive return territory for 2017, with average gains being over 10%. Interestingly however, the largest funds, including the 10 largest, are dragging the rest down, posting the lowest returns in September and year-to-date (YTD). Contributing to this lag is the fact that fewer than 20% of the managed futures strategies at the largest firms are returning over 5%.
Some other interesting themes to note:
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- Activist investors are continuing to gain clout, leading the non EM-focused industry in 2017 by nearly 10%.
- Brazil continues to be one of the most promising emerging markets performers of 2017, with nearly equal exposure to India fund performance and closing in on China for YTD performance.
- The hedge fund industry posted its eleventh straight month of aggregate gains, returning an average of +0.67% in September and +2.32% in Q3. The industry is +5.92% YTD for 2017.
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