FAIRFIELD, Iowa, August 13, 2018 — Hedge Funds gained 0.54% in July according to the Barclay Hedge Fund Index compiled by BarclayHedge, versus a 3.72% increase in the S&P 500 Total Return Index. Year to date, the Barclay Index is up 1.04%, while the S&P has gained 6.47%.
“In spite of July’s rise in global equities, hedge fund performance was mixed,” says Sol Waksman, founder and president of BarclayHedge.
Twelve of Barclay’s 17 hedge fund indices gained ground in July, while five had losses. The Healthcare & Biotechnology Index was up 1.83%, Equity Long Bias scored a 1.52% gain, European Equities were up 0.73%, while Emerging Markets ended their five-month losing streak with a 0.22% gain.
The Technology Index fell 0.95% in July, Pacific Rim Equities were down 0.79%, Global Macro lost 0.61%, and Merger Arbitrage gave up 0.38%.
“Technology funds were negatively impacted by Facebook’s record 20 percent decline triggered by the announcement of weaker-than-expected revenue growth,” says Waksman. “Based on Q1 13F filings, Facebook was the third most widely-held stock in hedge fund portfolios. Microsoft was the most popular and Google was second.”
After seven months, 12 hedge fund indices have gains in 2018, while five have negative returns for the year. Healthcare & Biotechnology continues its strong performance with an 11.70% year-to-date gain. Distressed Securities are up 6.96%, the Technology Index has gained 6.22%, and European Equities are up 3.32%.
The Emerging Markets Index has a loss of 4.39% in 2018, Pacific Rim Equities are down 3.47%, and Global Macro has lost 1.63%.
The Barclay Fund of Funds Index gained 0.45% in July, and is now up 0.97% for the year.
For a complete table of BarclayHedge Hedge Fund Index and Sub-Index numbers for July as well historical returns, click here.
Sol Waksman is an experienced media source, providing perspectives on hedge fund and managed futures trends. For more commentary or background, call 641-472-3456 or email swaksman@barclayhedge.com.
BarclayHedge is the global leader in providing independent, research-based information services to the alternative investment industry. Founded in 1985, Barclay currently maintains data on more than 6,400 hedge funds, fund of funds, and CTAs. No one has been in the business of collecting alternative investment data longer than BarclayHedge.
Institutional investors, brokerage firms, and private banks worldwide utilize BarclayHedge indices as performance benchmarks for the hedge fund and managed futures industries.