HEDGE FUND PERFORMANCE UPDATE: JUNE 2019

Hedge Fund Performance

Update: June 2019
Single-Manager Hedge Funds • Preqin's All-Strategies Hedge Fund
Jun-19 May-19 2019 YTD 12 Months 12M Trend benchmark gained 2.15% in June
Hedge Funds 2.15 -0.99 7.73 3.07
following losses in May of 0.99% –
HF - Equity Strategies 2.70 -2.38 9.39 2.31 this takes the 2019 YTD return to a
HF - Macro Strategies 2.07 0.12 5.51 4.52 strong 7.73%. All fund structures
HF - Multi-Strategy 1.84 -0.66 5.76 1.80 generated positive returns in
HF - Event Driven Strategies 1.59 -2.01 5.82 1.12
June, reversing industry-wide
HF - Credit Strategies 0.83 0.19 4.56 4.38
underperformance in May.
HF - Relative Value Strategies 0.43 -0.03 2.82 2.03
Discretionary 2.45 -1.58 8.41 2.99
Systematic 1.90 -1.37 5.13 2.04 • All top-level strategies tracked
Activist 1.79 -2.00 8.05 1.32 by Preqin made gains in June.
Volatility 1.68 -0.37 5.78 3.94 Equity strategies were the best
HF - North America 2.53 -2.00 8.77 2.67
performing strategy, posting
HF - Emerging Markets 2.19 -0.82 7.20 6.92
HF - Asia-Pacific 1.64 -2.19 6.26 -1.49
returns of 2.70% and pushing
HF - Developed Markets 1.61 -1.68 7.25 3.05 the YTD figure to 9.39%. Close
HF - Europe 0.89 -0.93 4.78 -1.10 behind are multi-strategy hedge
HF - USD 2.57 -1.28 8.23 2.82 funds, which have returned 1.84%,
HF - BRL 1.97 0.77 6.20 16.14
whereas relative value strategies
HF - EUR 1.11 -1.51 3.55 -2.46
hedge funds only made 0.43%
HF - GBP 0.66 -1.22 3.48 -2.75
HF - JPY -0.28 -0.84 0.20 -6.12 in June 2019, bringing their YTD
HF - Large* 3.50 -0.38 10.10 6.77 figure to 2.82%.
HF - Medium* 2.30 -1.09 7.02 3.73
HF - Emerging* 2.30 -0.71 8.79 4.07 • Hedge funds denominated in USD
HF - Small* 1.73 -1.10 6.54 1.65
outperformed all other currencies
by returning 2.57% in June,
Multi-Manager Hedge Funds
pushing their 12-month return to
Jun-19 May-19 2019 YTD 12 Months 12M Trend
2.82%. The only currency to make
Funds of Hedge Funds 1.73 -0.75 6.37 1.17
a loss, JPY-denominated hedge
FOHF - Equity Strategies 2.16 -1.94 7.84 -0.21
FOHF - Multi-Strategy 1.68 -0.48 5.94 1.07 funds struggled in June with a
FOHF - EUR 0.58 -1.04 2.97 -3.59 return of -0.28%, pushing their
FOHF - USD 1.92 -0.77 6.68 1.64 12-month return to -6.12%.
Funds of CTAs 3.65 -1.04 6.94 4.32

• Large* hedge funds outperformed

Liquid Alternatives
their smaller counterparts by
Jun-19 May-19 2019 YTD 12 Months 12M Trend
generating a return of 3.50% in
Alternative Mutual Funds 2.64 -1.34 7.16 1.29
UCITS 1.64 -1.79 4.74 -0.54
June. Medium and emerging hedge
UCITS - Equity Strategies 2.33 -2.92 6.46 -1.92 funds each made 2.30%, while
UCITS - Macro Strategies 1.24 -1.17 3.41 1.31 small hedge funds ($100-499mn)
UCITS - Relative Value Strategies 0.85 -0.88 1.51 -1.25 made the lowest gain of 1.73%,
UCITS - USD 2.31 -2.10 6.05 0.97
bringing their YTD return to 6.54%.
UCITS - EUR 1.41 -1.86 4.13 -1.41

Please note, all performance information includes

CTAs preliminary data for June 2019 based on net returns
Jun-19 May-19 2019 YTD 12 Months 12M Trend reported to Preqin in early July 2019. Although stated
trends and comparisons are not expected to alter
CTAs 2.88 -0.27 5.59 3.23 significantly, final benchmark values are subject to
Systematic 3.41 -0.56 6.40 4.62 change.
Discretionary 0.53 0.40 0.78 -2.18
CTA - USD 3.23 -0.09 6.28 4.00 *Preqin fund size classifications: Emerging (less
than $100mn); Small ($100-499mn); Medium ($500-
CTA - EUR 1.65 -2.09 0.72 -5.06
999mn); Large ($1bn plus).

© Preqin Ltd. www.preqin.com