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Komfie Manalo, Opalesque Asia:

It was a positive week for hedge funds ending June 16, Lyxor Asset Management reported in its Weekly Briefing. The Lyxor Hedge Fund Index was up 0.3%, with all but one strategy ending in the black.

"CTAs were the main driver, up 0.6%, supported by higher U.S. equities and lower bond yields on both sides of the Atlantic, Philippe Ferreira, Lyxor AM’s head of research, managed account platform said. "Meanwhile, the USD rebounded against the Euro and this was also supportive. CTA and global macro managers (+0.3%) are both long USD against major currencies."

Lyxor said that following two negative weeks, global macro managers and CTAs managed to recoup part of the losses. Both strategies generated gains on fixed income. Uncertainties generated by the turmoil in Greece actually translated into a sell-off in peripheral bonds and a rally in safe haven bonds, namely German bunds and U.S. treasuries. CTAs managed to post additional returns on short agricultural positions.

Long/short equity funds did relatively well, finishing the week up +0.3%. As a reversal of the trend that has been evident since the beginning of the year, Asian-focused managers underperformed. In Europe, managers were able to generate strong alpha despite the volatile environment. Meanw......................

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