Bulletin
Investor Alert

New York Markets Open in:

×

Aug. 22, 2019, 1:19 p.m. EDT

Hedge-fund emerging-market assets hit fresh high

Emerging markets faced plenty of headwinds in 2019

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Andrea Riquier


Reuters
Despite protests calling for opposition candidates to be registered for elections to Moscow City Duma, the capital's regional parliament, in Russia, hedge funds have enjoyed strong performance in the country so far this year.

Emerging-market assets held by hedge funds rose to a fresh high in the second quarter in spite of market headwinds, according to an industry report out Thursday.

Hedge funds held a record $239.3 billion, according to the HFR Emerging Markets Hedge Fund Industry Report. That’s up $5.3 billion compared to the first quarter of this year.

Performance was strong, as well: the HFRI Fund Weighted Composite Index, the leading benchmark of global hedge fund performance covering all strategies and regions, gained 7.8% in the year through July. That was the strongest start to a calendar year since 2009. The HFRI Emerging Markets (Total) Index gained 8.6% in that time. That lags the performance of the S&P /zigman2/quotes/210599714/realtime SPX +0.0020%   which gained about 18% in that period.

Read: Hedge-fund assets hit a new record high in the first half

The best strategy index during this period was HFRI’s EM: Russia/Eastern Europe Index, which jumped 15.9% through July.

That’s happening even as risks to emerging markets remain elevated, HFRI noted in a release: “the Chinese Renminbi fell, the US lowered interest rates, and global economic growth turned mixed across both emerging and developed markets.”

See: Life, liberty and the pursuit of returns: There’s an ETF for that

/zigman2/quotes/210599714/realtime
US : S&P US
3,006.79
+0.06 +0.0020%
Volume: 1.55B
Sept. 19, 2019 5:17p
loading...

Andrea Riquier reports on housing and banking from MarketWatch's New York newsroom. Follow her on Twitter @ARiquier.

Get news alerts on S&P 500 Index — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.