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Barclay Hedge Fund Index down -0.96% in June (+0.13% YTD), Fund of Funds Index -0.74% in June (-1.34% YTD)

Friday, July 16, 2010
Opalesque Industry Updates - Hedge funds lost 0.96% in June according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is now up 0.13% year-to-date.

All but five of Barclay’s hedge fund indexes lost ground in June. The Barclay Equity Long Bias Index fell 2.95%, Healthcare and Biotechnology lost 2.62%, the Technology Index was down 2.22%, Equity Long/Short lost 1.78%, and Pacific Rim Equities were down 1.52%.

“Fears of a ‘double-dip’ recession helped drive equity markets lower for a second month,” says Sol Waksman, founder and president of BarclayHedge.

Four hedge fund strategies performed well in June. The Barclay Equity Short Bias Index jumped 4.08%, Fixed Income Arbitrage was up 0.75%, Merger Arbitrage gained 0.60% and the Convertible Arbitrage Index rose 0.31%.

“On the other side of the flight to quality trade, prices for US 10-year Treasuries rose two percent in June as risk-adverse traders sold stocks and then bought bonds with the proceeds,” says Waksman.

The two best performing hedge fund sectors in 2010 are the Distressed Securities Index, up 6.26% after two quarters, and the Fixed Income Arbitrage Index which has gained 5.53%.

“The ongoing rally in bond markets has been the ‘wind behind the sails’ for sectors that are interest rate sensitive,” says Waksman.

The Barclay Fund of Funds Index lost 0.74% in June, and is down 1.34% year-to-date.

Performance table available: Source kb

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