Hedge Funds Fall 1.6% In June

Jul 9 2013 | 11:05am ET

June was a tough month for hedge funds, according to Lyxor Asset Management.

The Lyxor Hedge Fund Index—and all of its strategy sub-indices—ended last month in the red. The overall benchmark dropped 1.63% on the month, cutting its 2013 gain to just 1.85%.

"The final month of the quarter has seen all strategies giving back performances, but this situation is unlikely to last, according to the managers we spoke to," Lyxor's Stefan Keller said. "From a top-down perspective, new opportunities and more mispricing have resulted from the current conditions, while bottom-up stock-pickers get ready to pick up the pieces during the upcoming Q2 earnings season."

Long-term commodity-trading advisers were the worst performers in June, dropped 2.64%. Equity market-neutral funds fell 2.45% and credit arbitrage funds 2.4%.

Special situations funds shed an average of 2.3%, short-term CTAs 2.1%, global macro 1.9%, distressed 1.8%, long bias 1.7%, variable bias 0.4% and merger arbitrage 0.1%.


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