June saw sell offs in both equities and credit as investors reacted to comments from the US Federal Reserve, as well as Asian weakness. According to the latest hedge fund performance report from eVestment, credit strategies posted their largest monthly loss since
September 2011 and in doing so gave an indication of the
group’s exposure to large sharp moves in U.S. treasuries.
Mortgage related strategies in particular had their worst
month since late 2008, the peak of the financial crisis.
The report shows that hedge funds fell an average of -1.3% in......................