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Alternative Market Briefing

Hedge funds fell -1.24% in June (+1.27% YTD) as Greece crisis raises volatility

Tuesday, July 07, 2015

Komfie Manalo, Opalesque Asia:

Hedge funds declined in June with the HFRX Global Hedge Fund Index falling -1.24% for the month (+1.27% YTD) as volatility increased as a result of uncertainty over the outcome of the Greece referendum, said Hedge Fund Research in its monthly report.

"Global equity markets posted declines in June, with continued volatility in Chinese equities throughout the month complemented by a surge in volatility in European equities into month end as Greek banks closed," HFR said. It added, "U.S. equities posted declines led by energy, technology and commodity sensitive sectors. Government bond yields increased across both U.S. and Europe, led by increases in Spain, France, Germany and the UK. The U.S. Dollar declined against the British Pound Sterling and Japanese Yen, while energy & metals commodities posted declined led by oil and silver; agricultural commodities posted sharp gains led by wheat, corn & soybeans."

The HFRX Absolute Return Index declined -0.38% during the month, the report said.

The HFRX Equity Hedge Index posted a decline of -0.84% for June with contributions from Market Neutral strategies offset by Fundamental managers. The HFRX Market Neutral Index gained +1.09%, its best monthly performance since October......................

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