Trend-following funds post slight loss in June as gold and silver offset losses

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Summary · why it matters

Trend-following hedge funds posted a slight loss in June. According to a Societe Generale client report, profits from gold and silver trades largely offset losses in crude oil, coffee, and the Australian dollar. Gold fell about 12 percent in June, benefiting funds with short positions. Systematic hedge funds averaged a negative 0.1 percent return in June, but year-to-date returns remain above 9 percent. Among 78 hedge funds tracked by Societe Generale, year-to-date performance ranged from negative 8 percent to around positive 11 percent, with gold, silver, and equity investments boosting profits, while trades in crude oil, heating fuel, and the Australian dollar generated losses. The most concentrated positions were in interest-rate related trades.

Impact on assets 5

Others± Mixed · 5 stocks
⛏Gold Futures
GOLD
▲ PositiveSupplyrelevance

Gold fell about 12% in June, benefiting funds with short positions, but the article notes gold boosted profits for trend-following funds.

⛏Silver Futures
SILVER
▲ PositiveSupplyrelevance

Silver trades boosted profits for trend-following funds, offsetting losses in other assets.

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