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Matthias Knab, Opalesque:

Hennessee Group LLC announced that the Hennessee Hedge Fund Index gained +1.21% for the month (+4.14% YTD), while the S&P 500 rose +3.42% (+7.58% YTD), the Dow Jones Industrial Average increased +5.41% (+9.75% YTD), and the NASDAQ Composite Index moved higher by +2.59% (+6.32% YTD). Bonds were negative on the month, as the Barclays Aggregate Bond Index lost -2.37%, (+2.51% YTD).

The top three strategies for the month were Financial Equities (+8.93%), Event Driven (+3.00%) and High Yield (+2.84%). The bottom three strategies for the month were Latin America (-6.34%), Short Biased (-1.79%) and Asia-Pacific (-1.35%). For the year, Latin American (+26.04%) continues to lead all strategies while Short Biased (-7.61%) brings up the rear.

Equity long/short hedge funds were positive for the month, as the Hennessee Long/Short Equity Index rose +2.44% (+3.71% YTD). The best performing sectors were financials (+13.67%), industrials (+8.48%), and energy (+7.88%), while underperforming sectors were utilities (-5.96%), consumer staples (-4.52%) and information technology (-0.59%).

The Hennessee Arbitrage/Event Driven Index increased +1.24% for the month (+6.21% YTD). The Barclays Aggregate Bond Index fell -2.37% (+2.51% YTD) as interest rates were higher for the month. High yield increased as the Merrill Lynch High Yield Master II Index fell -0.39% for the month (+15.22% YTD). High yield spreads were lower for the month, decreasing 24......................

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