Oliver Schupp Opalesque Industry Update - A second month of negative hedge fund performance is being partially attributed to the anxiety over European sovereign debt worries. The Dow Jones Credit Suisse Core Hedge Fund Index in June fell -1.95 and Oliver Schupp, President of Credit Suisse Index Co says "Headlines over Eurozone debt concerns dominated markets and set the tone or a second consecutive negative month of hedge fund performance in June." The uncertainty in the global markets has not allowed for the formation of any significant trends, which hurt many managers, and Global Macro especially, which fell -3.12% during June. Schupp attributes the only positive performance (by fixed income arbitrage managers) to increased interest rate volatility and widening swap spreads. Fixed income stands at +2.38% YTD at the 2011 halfway mark. YTD the Dow Jones Credit Suisse indices reveal that almost all strategies are reporting rin with overall losses. Hardest hit is managed futures, followed by global macro. Strategies still in positive territory include convertible arbitrage, fixed income arb, and emerging markets with an impressive +2.38%. Full performance tables available: Source Kirsten Bischoff |





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