Long/Short Funds Fall, Macro Funds Rise In June

Jul 2 2009 | 12:27pm ET

Hedge funds posted mixed returns in June, according to the first—very preliminary—index returns.

The Credit Suisse Long/Short Equity Replication Index fell 0.57% last month, Credit Suisse said. Macro funds, by contrast, enjoyed a 0.33% return in June.

“Following May, which was one of the better performing months for hedge funds in recent history, June generated mixed performance both for hedge funds and broad market indices,” Jordan Drachman, head of research for alternative beta strategies at CS, said.

“As suggested by these returns, hedge funds appear to remain cautious in the face of broad market uncertainty. However, many funds are poised to capitalize on forthcoming market rallies by maintaining a positive net exposure to equity markets.”


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