Hedge Funds Shed 1.22% In June, End First Half Up 0.76%

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).


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note