Hedge Fund Reader : Hedge Funds Down in June

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July 04, 2006

Hedge Funds Down in June

The $1.2 trillion hedge fund industry has not done too well in June, says a research report from industry tracker Merrill Lynch. Though the losses are not as high as they were in May, the average returns over the first three weeks of June were minus 0.65 percent. While Merrill Lynch reported that hedge funds were up an average of 3.79 for the year, the S&P 500 Index is up by 1.76 percent, and the Lehman U.S. Aggregate bond index is down 1.05 percent. Global macro funds and managed futures funds posted losses for the month of June while convertible arbitrage funds and merger arbitrage funds posted slight gains. Money CNN reports:

All but three of the strategies Merrill Lynch tracks were down for the first three weeks of June. U.S. long/short equity funds, which take both long and short positions in stocks and equivalent securities, were down 2.88 percent for the same period, according to the Merrill Lynch Hedge Fund Composite index. These funds are roughly flat for the year, according to the index.

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July 4, 2006 in Research | Permalink