Hedge Fund Replicators, Like Replicatees, Slammed In June

Jul 8 2011 | 12:03pm ET

One set of hedge fund replication indices certainly lived up to its name in June, to the detriment of investors.

IndexIQ's suite of hedge fund beta indices took a beating in June, replicating the pitiful performance of most hedge fund indices. All six of IndexIQ's strategy indices were in the red last month, as well as its IQ Hedge Composite Beta Index, which lost 1.22% on the month (up 0.63% year-to-date).

The Event-Driven Beta Index suffered the worst June, losing 1.58% (up 0.27% YTD), followed by the global macro (down 1.5% in June, up 2.14% YTD) and emerging markets (down 1.48%, down 2.14% YTD) benchmarks. The fixed-income index funds lost 1.39% on the month (up 0.1% YTD).

IndexIQ's long/Short beta index dropped 1.27% in June (up 2.06% YTD) and its market neutral index 0.1% (up 1.21% YTD).

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Editor's Note