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Bailey McCann, Opalesque New York:

Hedge funds eeked out positive performance in the first half of 2018, despite growing uncertainty over the global trade war. The HFRI Fund Weighted Composite Index declined -0.46 percent for the month of June, according to data released today by HFR.

Gains in event-driven strategies were offset by declines in equity long/short, relative value and macro strategies.

"Hedge fund performance was mixed for June as trade-tariff volatility spiked, with event-driven and technology strategies extending gains to conclude a strong 1H18, while the overall HFRI topped declines on most European, Asian and global equities, as well as the DJIA, for 1H18," stated Kenneth J. Heinz, HFR President. "Trade-tariff equity volatility has increased concurrent with strong U.S. earnings at the same time that the U.S. yield curve flattened and the Fed increased rates, creating additional pressure on non-U.S. equities. These trade-centric macroeconomic drivers are likely to accelerate through 2H18, inclusive of upcoming meetings between U.S. and Russia, contributing to a fluid environment and increased opportunity set for long/short investing across multiple asset classes globally. Funds which have demonstrated the ability to navigate this environment are likely to drive performance & growth in 2H18."

In their first month since launch, the HFR Bank Systematic Risk Premia Index family was led by currency and interest rate strategies, as the U.S. Federal ......................

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