Designed to reflect the performance of the largest and most liquid funds available to US Investors.
Designed to reflect the performance of the largest and most liquid funds in the hedge fund industry.
Broadly constructed indices designed to capture the breadth of hedge fund performance trends across all strategies and regions.
Indices utilizing a rigorous quantitative selection process to represent the broader hedge fund universe.
Designed to track performance trends across a variety of ESG strategies.
Designed to reflect the performance of liquid alternative investment strategies compliant with established UCITS guidelines.
Performance benchmarks comprised of alternative investment strategies compliant with established UCITS guidelines.
Indices are comprised of hedge funds investing in cryptocurrency and distributed ledger technologies.
The Investor Guidebook is designed to offer a comprehensive overview of the investable HFRI 500 Indices.
Review the characteristics that differentiate the various HFR Index families.
Learn more about our HFR Index Direct licensing program.
HFR is an ESMA Registered Benchmark Administrator.
Access our detailed database of thousands of hedge funds, fund of funds and managed futures investment products. Research Alternative UCITS funds and U.S. Liquid Alternatives. Analyze HFR Index constituents
Research HFRI® Indices constituents using powerful data visualization technology.
Conduct long term studies on liquidated and non-reporting hedge funds. The HFR Dead Funds Database is the essential guide to over 21,000 alternative investment products that have liquidated or otherwise ceased reporting.
Access our detailed database of leading institutional investors in the hedge fund industry. Research endowments, foundations, pensions, wealth management firms and beyond.
Already have an account? Follow the link below to log into HFRDatabase.com
An essential guide for institutional investors and alternative asset managers, the HFR Global Hedge Fund Industry Report provides detailed information on current hedge fund trends and historical data.
HFR Market Microstructure Hedge Fund Industry Reports provide an extensive and sophisticated cross-sectional analysis of the hedge fund industry.
Covering one of the fastest growing areas of the hedge fund industry, the HFR Asian Hedge Fund Industry Report provides exceptional region-specific analysis.
Resourceful investment managers watch for rewarding opportunities in emerging markets. This HFR Industry Report provides analysis of the world of emerging market hedge funds.
Industry insiders utilize our full set of HFR Industry Reports to gain a detailed picture of current trends and a historical perspective of the hedge fund industry.
This bundled subscription of our most popular research publications will keep you on top of significant developments in the hedge fund industry.
Research HFRI Indices constituents using powerful data visualization technology.
Already have an account? Follow the link below to log into HFRDatabase.com
HFR provides investment professionals with timely, comprehensive, and customized views of their investments
HEDGE FUNDS GAIN AS POLITICAL RISKS RISE
Equity Hedge tops strategy performance as HFRI posts 10th gain in 11 months; Uncertainty around Afghanistan, stimulus, spending and reopening increase
CHICAGO, (September 8, 2021) – Hedge funds advanced in August, despite increasing risks associated with instability in Afghanistan and expectations for Federal Reserve stimulus reductions, as well as proposed spending legislation and ongoing virus variant impacts. The HFRI Fund Weighted Composite Index® (FWC) gained +0.8 percent in August, while the investable HFRI 500 Fund Weighted Composite Index advanced +0.45 percent, according to data released today by HFR®, the established global leader in the indexation, analysis and research of the global hedge fund industry.
The HFRI FWC Index has gained +10.0 percent through the first eight months of 2021, recovering the narrow July decline, and has posted gains in 10 of the last 11 months, returning +22.0 percent over this period.
The performance dispersion of the underlying index constituents narrowed in August, as the top decile of the HFRI gained an average of +6.1 percent, while the bottom decile declined an average -3.6 percent for the month, representing a top-bottom dispersion of 9.7 percent in August compared to a top-bottom dispersion of 12.1 percent in July. In the trailing 12 months, the top decile of the HFRI jumped an average of +71.2 percent, while the bottom decile declined an average -7.6 percent.
Equity Hedge strategies, which invest long and short across specialized sub-strategies, extended recent gains in August, as many equity markets reached record highs, while realized equity volatility remained elevated. The HFRI Equity Hedge (Total) Index jumped +1.2 percent for the month, with strong contributions from a wide dispersion of sub-strategy performance led by the high-beta, long-biased Healthcare, Technology, and Energy sub-strategies. The HFRI EH: Healthcare Index surged +3.3 percent, while the HFRI EH: Technology Index and EH: Energy Index jumped +3.0 and +2.2 percent, respectively. The HFRI Equity Hedge Index leads all strategies performance YTD with a +11.9 percent return. The investable HFRI 500 Equity Hedge Index added +0.5 percent in August, increasing its YTD gain to +10.6 percent.
Event-Driven strategies, which often focus on out-of-favor, deep value equity exposures and speculation on M&A situations, also posted a strong gain in August as the investable HFRI 500 Event-Driven Index returned +1.0 percent, while the HFRI Event-Driven (Total) Index also advanced +1.0 percent. ED sub-strategy gains were led by the HFRI ED: Multi-Strategy Index which jumped +3.8 percent, while the HFRI ED: Activist Index advanced +1.5 percent. The HFRI Event-Driven Index trails only EH in strategy performance YTD with a +11.4 percent return.
The fixed income-based, interest rate-sensitive HFRI Relative Value (Total) Index advanced +0.5 percent in August, while the investable HFRI 500 Relative Value Index added +0.3 percent, as interest rates increased on expectations for the US Federal Reserve to begin reducing economic stimulus measures. Sub-strategy performance was led by the HFRI RV: Volatility Index, which returned +0.9 percent for the month, while the investable HFRI 500 RV: FI-Sovereign Index added +0.9 percent.
Uncorrelated Macro strategies posted gains in August despite increased political uncertainty from the instability in Afghanistan, with the HFRI Macro (Total) Index gaining +0.2 percent for the month, while the investable HFRI 500 Macro (Total) Index also advanced +0.2 percent. Macro sub-strategy performance was led by the HFRI Macro: Commodity Index, which jumped +2.2 percent in August, while the HFRI Macro: Multi-Strategy Index added +0.8 percent.
Risk Premia and Liquid Alternatives posted mixed performance in August, with gains in Credit and Currency exposures. The HFR BSRP Credit Index advanced +2.5 percent for the month, while the HFR BSRP Currency Index added +1.2 percent. The HFRX Global Hedge Fund Index gained +0.7 percent in August, led by a gain of +1.3 percent in the HFRX Equity Hedge Index.
The HFRI Women Index jumped +1.5 percent in August, while the HFRI Diversity Index advanced +1.2 percent.
“Hedge fund posted strong gains in August despite an evolving continuum of risk including geopolitical instability, monetary policy, immigration, and ongoing pandemic challenges and complexities, with gains across all strategies led by deep value equity and event driven exposures,” stated Kenneth J. Heinz, President of HFR. “These and other diverse but powerful trends continue to drive strong performance industry-wide, including cryptocurrency trading, energy exposures and interest rate sensitivity. With hedge fund industry capital as record levels, institutions continue to increase allocations to managers and strategies which have demonstrated not only performance generation but tactical flexibility to quickly identify and monetize opportunities, often acting as liquidity providers through periods of stress and uncertainty. These funds are trends are likely to lead global industry performance and growth in 2H21.”
HFR Indices are ESMA registered.