Deutsche Bank and SS&C GlobeOp Reports Show Positive Trends for Hedge Funds

Monthly reports from Deutsche Bank and SS&C GlobeOp show positive movement for the hedge fund industry, following Tuesday’s report from Eurekahedge that hedge fund performance edged up last month.

Deutsche Bank’s Monthly Hedge Fund Trends report found that the median fund gained 0.93% in July, and the median fund performance now sits at 4.85% year-to-date.

The study found that equity long/short strategies performed the highest, up 2.41%, followed by event driven strategies at 1.91%. Macro (-0.67%) and CTA/Managed Futures (-1.25%) were the only strategies that fell in July.

Regionally, Japan long/short strategies continue to lead the way, up 17.21% so far this year, while the same strategies in the U.S. and Europe are up 9.21% and 8.17% respectively.

Meanwhile, SS&C GlobeOp’s Hedge Fund Performance Index estimates that funds are up 1.52% overall in August, bringing the year-to-date average to a 6.55% increase.
However, SS&C Globe Op’s study found that redemptions rose in August with a rate of 4% compared to 2.7% in July. The redemption rate is calculated by dividing the sum of forward redemption notices by the assets under administration at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp platform.
“August redemption requests increased from July by over 1%, but remain moderate and in-line with past averages,” said Bill Stone, chairman and chief executive officer, SS&C Technologies.