Hedge funds posted another positive yet meagre gain in June, dragged down by the losses of emerging markets managers, according to data released by Eurekahedge.
Distressed debt hedge fund managers maintained their position across strategic mandates with their year-to-date return, despite the lack of significant movement in the high yield and leveraged loan markets.
CTA/managed futures hedge funds continued to struggle as the commodity markets came under the pressure of trade war concerns and tariff spat between major economies.
Fund managers focusing on emerging markets struggled during the month as the underlying equity markets came under the pressure of political and trade concerns, combined with the weakness of emerging market currencies against the US dollar.
Over the first half of 2018, hedge fund launches (277) outnumbered liquidations (225) as strong capital inflows supported the industry. This marked a reversal from the trend seen in the first half of last year, which saw 341 launches and 425 closures.
