While hedge funds finished in positive territory last month, managed futures continue to struggle, according to the Credit Suisse/Tremont Hedge Fund Index.
The index showed managed futures down 2.32 per cent for the month as managers struggled with difficult to follow trends, Credit Suisse Index Co president Oliver Schupp said.
However, hedge funds posted returns of 0.43 per cent in June, with gains for the year totaling 7.18 per cent, Schupp said.
“The second quarter appears to have been a turning point for hedge funds with 87 per cent of all gains for the year generated in the last three months,” he said.
Meanwhile, the index showed that convertible arbitrage was again the strongest performing sector, up 4.05 per cent for the month.
“The strategy has been up every month this year, with managers capitalising on mis-pricings in the space,” Schupp said.
