Global equity market strategies battered on all fronts


It was a brutal month for global equities, and fund of funds in this sector were almost all negative on the month – although the median return of -2.80% compares favourably with the index.

Aurum Universal was off by only 0.26% on the month, leaving year-to-date figures at 2.33%; amongst the fund’s underlying managers, gains from short DAX positions were offset by losses in the energy and materials sectors.

Heritage Long Short Equity was down 1.86%, taking year-to-date numbers to 0.14%. The fund’s largest underlying positions include Amiya Global Emerging Opportunities, run by ex-Goldman Sachs trader Ian Mukherjee,