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Alternative Market Briefing

Hedge funds down -1.42% to -1.33% over all strategies in June

Thursday, August 01, 2013

Bailey McCann, Opalesque New York:

The June sell off in equities markets, and subsequent downward pressure on hedge fund performance in June has been well documented. However, new data from Citi Prime Finance provides a more granular view that may well highlight key trends emerging in the industry. Unlike other prime brokers that look across an internal dataset that typically constitutes only several hundred hedge funds, Citi aggregates information across multiple industry-leading data sets and proprietary information deemed important by the hedge fund industry.

According to the stats, composite hedge fund performance, equal-weighted across funds, was down in June 2013 with performance ranging from -1.42% to -1.33%. Across the major hedge fund indices returns were lower than the previous month which experienced +0.49% to +0.75% over the same period.

Hedge fund strategy wise, top performing strategies in June 2013 include Dedicated Short +0.45% Equity Market Neutral -0.40% , and Convertible Arbitrage -0.70%. The lowest performing strategies include Emerging Markets -4.11%, CTA/Managed Futures -1.77%, and Global Macro at -1.64%.

Across the subset of hedge funds reporting performance and AUM, the monthly median performance for large single funds (>$500 million) was -1.7%, medium single funds ($100–$500 million) -1.2% and small single funds ($500 million AUM) continue to hold......................

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