Preqin reports that the All Strategies Hedge Fund Benchmark posted a return of +2.40 per cent in June, rebounding from the poor returns of -0.26 per cent in May.
The firm writes that the end of Q2 2023 brought positive returns across all top-level fund types and structures, outperforming May’s figures. After posting negative returns in May, funds of hedge funds, alternative mutual funds, and UCITS reported returns of +0.97 per cent, +1.81 per cent, and +1.33 per cent, respectively.
Preqin writes that all top-level strategies posted positive returns in June, outperforming May’s returns. Event driven strategies were the best performing, reporting +3.34 per cent June return and ending a two-month negative streak. Equity strategies also performed well, posting a +3.16 per cent June return and a +6.64 per cent year-to-date return, making it the best performing top-level strategy this year so far. Macro and credit strategies were the worst performing of all top-level strategies, but posted positive June returns of +0.86 per cent and +0.83 per cent, respectively.
Regionally, North America-focused funds outperformed all other regional-focused benchmarks, posting June returns of +3.63 per cent and a year-to-date return of +6.89 per cent. Emerging markets ended Q2 2023 with a three-month positive streak, posting returns of +3.25 per cent in June and a year-to-date of +6.13 per cent. Europe-focused funds were the worst performing of all regional-focused benchmarks, with +0.86 per cent in June and +3.96 per cent year-to-date. Developed markets and APAC-focused funds both performed well, reporting June returns of +1.47 per cent and 2.80 per cent, respectively.
CTAs were the only top-level strategy to post positive returns throughout Q2 2023, helping the benchmark to generate a year-to-date return of +1.67 per cent.
