Hedge Funds Fall 1.15% In June

Jul 5 2013 | 9:42am ET

For the first time in what seems like ages, the average hedge fund outperformed the broader markets last month.

Unfortunately, it was still a losing month, with the Greenwich Global Hedge Fund Index falling 1.15%, based on preliminary estimates. The Standard & Poor's 500 Index fell 1.34% in June.

On the year, the Greenwich index is up 3.54%.

June's losses were widely spread, with only two of Greenwich Alternative Investments' strategy indices in the black: Event-driven funds added 0.58% last month (7.74% year-to-date) and equity market-neutral 0.03% (1.89% YTD). Long/short credit funds took the biggest hit, dropping 2.65% (up 0.79% YTD), followed by multi-strategy funds (down 2.09% in June, up 1.6% YTD), long/short equity funds (down 1.57%, up 5.44% YTD) and futures funds (down 1.06%, down 1.35% YTD).

Arbitrage funds lost an average of 0.3% in June (up 3.86% YTD) and macro funds 0.17% (up 3.43% YTD).

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