2018 Overview: Key Trends in North American Hedge Funds

The Eurekahedge North American Hedge Fund Index was up 3.66% in January 2019, underperforming the region’s equity markets as represented by the MSCI North America IMI which gained 8.51% over the month. North American hedge fund managers ended 2018 down 2.97% as concerns over the US-China trade tension and fed rate hikes weighed on their returns. Going into 2019, fund managers kicked off the year by recording strong gains in January, thanks to the improving optimism over the US-China trade talks. On the other hand, the US Federal Reserve has adopted a patient, wait-and-see stance for their future rate decisions as a response to the muted inflation caused by the sharp decline of oil prices and the risk of global economic slowdown. The dovish tone exhibited by the Fed acted as a tailwind to the US equity markets and pushed the S&P 500 and DJIA by 7.69% and 7.17% higher respectively in January, recovering a sizeable portion of the steep losses they suffered in December last year.

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