Considering hedge funds themselves suffered losses in excess of 1 per cent in June, it is perhaps no surprise that alternative UCITS funds also failed to successfullPARA_BREAK_SENTINEL_9f8e7d6c Considering hedge funds themselves suffered losses in excess of 1 per cent in June, it is perhaps no surprise that alternative UCITS funds also failed to successfully navigate choppy market conditions. The UCITS Alternative Index Global, calculated by Alix Capital, was down 1 per cent, following a 0.50 per cent drop in May to leave it -0.83 per cent YTD. More worrying still was the fact that June saw every strategy lose money. Not exactly a ringing endorsement for potential investors. Of those, the worst performing strategy was Emerging Markets, down 1.69 per cent, closely followed by Commodities which shed 1.50 per cent. Although Commodities, having had a strong start to 2011, are still up 2.08 per cent this year, Emerging Markets have incurred losses in four of the first six months to leave them down 1.72 per cent. The only other strategy to post positive returns for 2011 is Fixed Income (0.95 per cent): everything else is in the red. The best performers for June – that is those that kept losses to a minimum – were Fixed Income (-0.37 per cent) and Equity Market Neutral (-0.50 per cent). By far this year’s runaway laggard is CTA: it’s now down 2.43 per cent after returning -0.93 per cent for June. CTA has now experienced losses in 11 of the last 18 months.
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