Edhec Indices Drop In June

Jul 20 2010 | 12:10pm ET

School’s out for summer, but the French business school Edhec says it went out with a whimper, at least for hedge funds.

All but five of Edhec’s 12 hedge fund strategy indices took a dive last month. Long/short equity funds, in particular, wilted in the summer heat, dropping 1.69% (down 1.8% year-to-date), followed closely by event-driven funds, which dropped 1.29% (up 2% YTD).

Distressed securities funds shed 1.01% (down 4.5% YTD), equity market-neutral funds 0.47% (up 0.7% YTD), emerging markets funds 0.4% (down 0.8% YTD), global macro funds 0.27% (up 0.5% YTD) and relative value funds 0.26% (up 2% YTD). Funds of hedge funds dropped 0.82% and are down 1.3% through the first half.

The leaner bright side featured short-selling funds, which soared 4.05% last month (down 0.5% YTD), fixed-income arbitrage funds, which gained 0.9% (4.4% YTD), merger arbitrage funds, which added 0.37% (1.7% YTD), convertible arbitrage funds, which rose 0.29% (3% YTD) and CTA global funds, which edged up 0.2% (down 0.5% YTD).


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of