In summary...
Hedge fund performance was down 4.0% YTD.
H1 2022 has been an extraordinarily challenging time period, not only for financial markets, but also for the global geopolitical landscape.
Industry-wide hedge fund assets shrunk in H1 2022, primarily driven by negative performance.
Quant is the best performing master strategy year to date, up 10.8%.
Strategies that typically exhibit a higher beta to equities areas have struggled; the worst performing master strategy year to date is long-biased (-14.8%),
Despite dispersion being lower than during the height of 2020-21, hedge fund industry dispersion remains high relative to the last ten years.
Strategy correlation has also exhibited some significant changes over the last 12 months, as some areas have shown considerably more resilience to recent market pressures compared to others.
