Liquid Alternatives: The Wilshire Liquid Alternative Index Returns 1.54% In April

June 1, 2021 | Liquid Alternatives, News
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That figure underperformed the 1.63% monthly return from the HFRX Global Hedge Fund Index in the month of April.

The Wilshire index provides a representative baseline for the performance of the broader liquid alternatives space. According to Wilshire Associates, the index 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.”

“Following the rotation out of richly valued technology companies into cyclicals that occurred in the back half of the first quarter, equities enjoyed a positive month fueled by the re-opening of the U.S. economy and momentum-based market exposure,” said Jason Schwarz, President and Chief Operating Officer of the firm, in a statement.

How the Wilshire Associates indices fared

The Wilshire Liquid Alternative Index measures the collective performance of the five Liquid Alternative strategies that make up the Wilshire Liquid Alternative Universe.

The Wilshire Liquid Alternative Index is designed to provide a broad measure of the liquid alternative market by combining the performance of the Liquid Alternative Multi-Strategy Index, Liquid Alternative Equity Hedge Index, Liquid Alternative Event Driven Index, Liquid Alternative Global Macro Index, and Liquid Alternative Relative Value Index.

Here is a recap of Wilshire Associates’ individual indices.

  • The Wilshire Liquid Alternative Equity Hedge Index was up 2.69% during the month. That underperformed the HFRX Equity Hedge Index and its gain of 2.99%. Long-short equity managers enjoyed a strong April as the 10-year yield leveled off and equity markets resumed their momentum-driven positive performance. Growth-oriented managers outperformed value-oriented managers during the month; however, both performed well.
  • The Wilshire Liquid Alternatives Event-Driven Index ended the month up 1.54%, outperforming the HFRX Event Driven Index’s return of 1.56%.
  • The Wilshire Liquid Alternative Global Macro Index finished the month higher by 1.54%. It outperformed the HFRX Macro/CTA Index and its return of 1.10%.
  • The Wilshire Liquid Alternative Relative Value Index finished the month up 0.70%. That outperformed the gain of 0.46% from the HFRX Relative Value Arbitrage Index.
  • The Wilshire Liquid Alternative Multi-Strategy Index returned 1.90% for the month.

Related Story:  The Wilshire Liquid Alternative Index Returns 0.97% In March

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