8/15/2023
The index outperformed a 0.52% monthly return for the HFRX Global Hedge Fund Index
Santa Monica, Calif., August 15, 2023 – The Wilshire Liquid Alternative IndexSM, which provides a representative baseline for how the broad liquid alternative investment category performs, returned 0.75%in July, outperforming a 0.52% monthly return for the HFRX Global Hedge Fund Index. The Wilshire Liquid Alternative Index family aims to deliver precise market measures for the performance of diversified liquid alternative investment strategies implemented through mutual fund structures, backed by a proprietary classification methodology.
Equity markets continued their upward trajectory in July, reflecting investors' focus on changes in economic conditions rather than absolute values, including declining inflation and potentially peaking interest rates, with only about 30% of investors pricing in a further rate hike in November according to CME. Notable de-grossing occurred at the end of the month, though positioning in U.S. equity futures has built up to the longest levels seen in the last decade.
The Wilshire Liquid Alternative Equity Hedge IndexSM ended the month up 1.43%, outperforming the HFRX Equity Hedge Index’s return of 0.71%.
The Wilshire Liquid Alternative Event Driven IndexSM ended the month up 0.82%, underperforming the HFRX Event Driven Index’s monthly return of 0.93%.
The Wilshire Liquid Alternative Multi-Strategy IndexSM, which includes both single- and multi-manager funds, returned 1.07% in July.
The Wilshire Liquid Alternative Global Macro IndexSM ended the month down -1.15%, underperforming the HFRX Macro/CTA Index’s monthly return of -1.05%.
The Wilshire Liquid Alternative Relative Value IndexSM ended the month up 0.63%, underperforming the HFRX RelativeValue Arbitrage Index’s monthly return of 0.90%.
Wilshire is a global provider of market-leading indexes, advanced analytics, and multi-asset investment solutions. A trusted partner toa diverse range of more than 500 leading institutional investors and financial intermediaries, our clients rely on us to improve investment outcomes for a better future. Wilshire advises on over $1.3 trillion in assets and manages $86 billion in assets and is headquartered in the United States with offices worldwide.
More information on Wilshire can be found at www.wilshire.com.
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