Wednesday, 27 May 2015
Last updated 23 min ago
Jul 11 2011 | 11:36am ET
The first half ended on a sour note for hedge funds, according to Hedge Fund Research.
The average hedge fund lost 1.22% last month, according to the HFRI Fund Weighted Composite Index. While that's less than the Standard & Poor's 500 Index lost on the month, the broader markets returned 6.01% in the first half, compared to just 0.76% for hedge funds.
Losses last month were broad-based and sent three strategy indices into the red for the year to date. Macro funds were hardest-hit of the main strategies, falling 1.76% in June (down 2.16% year-to-date). Equity hedge funds lost 1.2% on the month (up 1.08% YTD), emerging markets funds lost 1.12% (down 0.27% YTD), event-driven funds lost 1.09% (up 2.87% YTD) and relative value funds lost 0.12% (up 3.16% YTD).
Among substrategies, energy and basic materials funds suffered by far the worst June swoon, falling 3.89% on the month (down 3.8% YTD). Systematic diversified funds fell 2.36% (down 3.22% YTD), Asia ex-Japan funds fell 1.65% (down 3.19% YTD), Russia and Eastern Europe funds fell 1.44% (up 3.74% YTD) and convertible arbitrage funds fell 1.01% (up 0.83% YTD).
Just three strategies were in the black in June: Short-bias, up 4.15% (down 3.87% YTD), yield alternative funds (1.98% in June, 6.81% YTD) and private issue and Regulation D funds (0.91%, 11.11% YTD).
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…