2019 Key Trends in European Hedge Funds

The Eurekahedge European Hedge Fund Index was up 5.16% as of October 2019 year-to-date, supported by positive geopolitical developments surrounding Brexit and accommodative ECB policies. The region’s underlying equity market, as represented by the MSCI AC Europe IMI gained 15.79% over the same period. The slowing economic growth in the region remained as the central bank’s primary concern, particularly after Germany’s gross domestic product contracted in Q2 2019, raising concerns over a recession. In response, the ECB enacted a deposit rate cut and restarted their asset purchase programmes in September, which boosted the equity market in the region. The DAX and CAC40 were up 21.86% and 21.12% respectively since the start of the year. The UK market was spooked by PM Boris Johnson’s firm stance towards no-deal Brexit and decision to prorogue the parliament in August, resulting in a 5.00% decline of the FTSE100 over the month. However, the situation has reversed as the PM reached an agree

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