Hedge funds down again for June
The Dow Jones Credit Suisse Hedge Fund Index is down again, posting negative returns of 0.84 per cent for June.
Five of the 10 sectors within the index posted negative performances for June, and the overall index performance follows a significant drop in May of 2.76 per cent.
However, the overall performance for the first half of 2010 was up 0.63 per cent, with the top performers being the Fixed Income Arbitrage and Global Macros sectors with returns of 5.52 per cent and 4.20 per cent respectively.
The top performer for June was the Dedicated Short Bias sector, which returned 5.45 per cent, followed by Fixed Income Arbitrage with a return of 0.92 per cent.
“Dedicated Short managers have capitalised on overall negative equity market performance, while Fixed Income Arbitrage managers have generated returns by seizing various arbitrage opportunities amid higher market volatility,” said president of the Credit Suisse Index Company, Oliver Schupp.
These findings support those of the latest Eurekahedge Hedge Fund Index report, which stated that continuing overseas market volatility has been driving hedge funds into negative returns with the overall sector posting minus 0.02 per cent for the current year.
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