Man FRM Early View

Mixed month for hedge fund performance, with risk-off positioning in equities and FX increasing volatility across asset markets.

Hedge funds enjoyed their third straight month of positive returns as Relative Value spreads normalised and generally positive returns to equity markets continued.

Hedge funds enjoyed positive performance during July, with returns supported by positive returns to equities, credit and government bonds.

June saw generally positive returns from discretionary equity and credit strategies, with mixed performance from relative value and quantitative strategies.

May was a mixed month for hedge fund performance, with positive returns from risk-on exposure in credit and equities offset by generally negative returns from systematic strategies, particularly in Managed Futures.