Hedge Funds Fall Almost 2% In June

Jul 7 2011 | 10:33am ET

Hedge funds lost ground across the board in June, pushing the average hedge fund into the red for the year, according to the Credit Suisse Index Co.

The Dow Jones Credit Suisse Core Hedge Fund Index shed 1.95% last month, leaving the index down 1.1% on the year. June's difficulties followed a rough May, when the index fell 1.71%.

"Headlines over Eurozone debt concerns dominated markets and set the tone for a second consecutive negative month of hedge fund performance in June," Oliver Schupp, president of the Credit Suisse Index Co., said.

All but one of the seven strategies tracked by Credit Suisse and Dow Jones fell in June, with fixed-income arbitrage's 0.2% (2.38% year-to-date) return the only bright spot.

The other strategies were all red. Global macro suffered the ugliest month, losing 3.12% (down 4.04% YTD), followed closely by managed futures funds (down 2.92% in June, 4.44% YTD) and event-driven funds (down 2.69%, down 1.71% YTD).

Long/short equity funds lost an average of 1.66% (up 1.4% YTD), convertible arbitrage funds fell 1.45% (up 0.42% YTD) and emerging markets funds edged down 0.11% (up 2.38% YTD).


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

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

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of