News & Events

Hedge Fund Performance Commentary

The Eurekahedge Hedge Fund Index was up 2.52% in July, bringing its year-to-date return to 1.65%, supported by the robust performance of the underlying global equity market as represented by the MSCI ACWI IMI (Local) which gained 3.67% over the same month. In the US, despite the fear of the increasing number of COVID-19 cases, the equity market in the region exhibited a strong run, with the tech-heavy NASDAQ up 8.82%, pushing its year-to-date return to 19.76%, while the S&P 500 returned 6.53% throughout the month, bringing its 2020 performance back into positive territory. The tech companies, particularly the FAANG group, benefitted from the pandemic which resulted in strong Q2 earnings. On the other hand, European equities underperformed owing to the escalation of the US-China trade tension and weak corporate earnings.

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