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Barclay Hedge Fund Index down 1.35% in June (4.25% YTD), hedge funds stumble after 12 straight months of gains

Monday, July 15, 2013
Opalesque Industry Update - After twelve consecutive months of gains, hedge funds lost 1.35% in June 2013, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index remains up 4.26% year to date.

“A comment by Fed chairman Ben Bernanke that the Fed may begin to taper its asset purchases caused interest rates to skyrocket while prices for equities, commodities, and emerging market currencies plummeted,” says Sol Waksman, founder and president of BarclayHedge.

Overall, 14 of Barclay’s 18 hedge fund strategies lost ground in June. The Barclay Emerging Markets Index dropped 3.97%, Distressed Securities lost 2.00%, Global Macro gave up 1.75%, Fixed Income Arbitrage was down 1.28%, and European Equities lost 1.21%.

“Downward moves in currency prices and sharp increases in local interest rates hit Emerging Markets hard in June,” says Waksman.

On the positive side, the Barclay Technology Index gained 0.98% in June, Equity Market Neutral was up 0.66%, Equity Short Bias rose 0.61%, and Convertible Arbitrage added 0.47%.

The Barclay Fund of Funds Index lost 1.66% in June, but is still up 3.08% year to date.

After the first two quarters of 2013, the Pacific Rim Equities Index has gained 13.08%, Healthcare & Biotechnology is up 10.60%, the Equity Long Bias Index has gained 8.41%, and Distressed Securities have returned 7.74%.

Equity Short Bias has lost 15.80% year to date. Emerging Markets slipped into negative territory in June, and is down 0.40% for the year. All other hedge fund strategies tracked by BarclayHedge are all in positive territory for 2013.

Click here to view five years of Barclay Hedge Fund Index data, or download 16 years of monthly data.

Press release


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