News & Events

Hedge Fund Performance Commentary

The Eurekahedge Hedge Fund Index was up 1.38% in June, driven by the strong performance of the global equity market as represented by the MSCI ACWI IMI (Local), which gained 2.70% over the same month. Global equities benefitted from the resumption of economic activity of most countries combined with an upbeat macroeconomic data boosting investors' optimism towards a faster-than-expected recovery of the global economy from the crisis. The US equity benchmark registered strong performance, as the labour data, particularly the nonfarm payroll, beat the market consensus by a substantial margin. The tech-heavy NASDAQ was up 4.05% in June, bringing its year-to-date return to 10.05%, while the S&P500 was up 0.87% during the month. In the same vein, European equities rallied, supported by the proposed stimulus package totalling 750 billion euros by the EU leaders to soothe the economic pain brought by the coronavirus. The DAX and CAC 40 were up 6.25% and 5.12% over the month, respectively.

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