HFRI: Hedge Funds Down 1.31%

Jul 10 2013 | 1:37pm ET

Hedge funds were bathed in red in June, as all but a handful of strategies suffered losses.

The average hedge fund fell 1.31% last month, according to Hedge Fund Research's HFRI Fund Weighted Composite Index. The benchmark is up 3.59% on the year.

Among major strategies, emerging markets hedge funds were hardest-hit, falling 3.96% in June (down 0.28% year-to-date). Macro dropped 1.45% (down 0.35% YTD), equity hedge 1.37% (up 5.34% YTD), event-driven 1.16% (up 5.44% YTD) and relative-value 0.93% (up 3.26% YTD).

Among substrategies, there were a handful of winners last month—yield alternatives rose 1.65% (12.41% YTD), short-bias 0.74% (down 9.96% YTD), technology and healthcare 0.65% (9.21% YTD) and equity market-neutral 0.43% (3.34% YTD). But they were vastly outnumbered by the losers.

Asia ex-Japan funds lost 5.74% on the month (up 0.86% YTD) and Latin America funds 5.15% (down 5.43% YTD). Russia and Eastern Europe funds dropped 2.78% (down 2.99% YTD) and global funds 2.38% (up 0.87% YTD).

Outside of emerging markets, things were better—but not by much. Corporate fixed-income shed 2.66% (up 0.7% YTD), systematic diversified 1.79% (down 0.51% YTD), multi-strategy relative-value 1.42% (up 3.93% YTD) and distressed and restructuring 1.18% (up 6.84% YTD). Merger arbitrage fell 0.49% (up 1.21% YTD), convertible arbitrage 0.4% (up 4.94% YTD) and quantitative directional 0.31% (up 4.9% YTD).

The HFRI Fund of Funds Composite Index gave back 1.44% in June to cut its 2013 return to 3.28%.


In Depth

Q&A: Executive Recruiter Talks Hedge Fund Closures, Hiring Trends

Dec 19 2014 | 6:58am ET

This year, hedge funds have been closing at a rate not seen since the financial...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Alternative Investment Funds Face A Communications Imperative

Dec 19 2014 | 6:10am ET

A handful of the top alternative investment firms on both sides of the Atlantic...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.