Hedge funds lost 0.91 per cent in June, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index remains up 3.52 per cent year to date, outperforming the S&P 500 Index which has gained 1.23 per cent.
“Grexit fears and China’s stock market in free fall took a toll on risk assets in June,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Fourteen of Barclay’s 18 hedge fund indices had losses in June. The Global Macro Index dropped 2.24 per cent, Emerging Markets were down 1.81 per cent, Distressed Securities lost 1.36 per cent, European Equities were down 1.26 per cent, the Multi Strategy Index gave up 0.86 per cent and Fixed Income Arbitrage declined 0.83 per cent.
“Macro funds were hit with losses on several fronts. Price declines in equity indices, emerging markets, high yield credits, and the US Dollar made for a challenging month,” says Waksman.
On the positive side, the Technology Index was up 0.80 per cent, Equity Market Neutral gained 0.64 per cent, Equity Short Bias was up 0.49 per cent, and the Healthcare & Biotechnology Index added 0.43 per cent.
After two quarters in 2015, Barclay’s Healthcare & Biotechnology Index leads all hedge fund strategies with a 12.60 per cent gain. Pacific Rim Equities are up 7.14 per cent, Emerging Markets have gained 6.16 per cent, Merger Arbitrage is up 4.72 per cent, and the Technology Index has gained 4.58 per cent.
The Barclay Fund of Funds Index lost 1.04 per cent in June, but is up 2.74 per cent for the year.
