RBC Index Drops 0.94%

Jul 16 2010 | 5:57am ET

A poor June doomed hedge funds to a losing first half, according to RBC Capital Markets.

The RBC Hedge 250 Index slumped 0.94% last month. Following a 2.33% loss in May, the index is down 0.56% through June.

Mergers and special situations funds weighed most heavily on the industry last month, dropping 1.91%. Fixed-income arbitrage was one of only two strategies tracked by RBC in positive ground in June, topping all of them at 0.75%.

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