Hedge funds gained 1.41 per cent in June, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
The index is now up 3.76 per cent in 2014.
“As investor’s shrugged off a downward revision of first quarter GDP and focused instead on the positive economic news coming out of the US, equity markets rallied to new all-time highs in June,” says Sol Waksman, founder and president of BarclayHedge. “Equity prices in emerging markets and Japan posted strong gains as well."
All but two of Barclay’s 18 hedge fund indices gained ground in June. The Barclay Healthcare & Biotechnology Index jumped 3.81 per cent, Technology was up 2.97 per cent, Pacific Rim equities rose 2.15 per cent, Equity Long Bias gained 1.87 per cent, the Event Driven Index added 1.86 per cent, and Distressed Securities were up 1.44 per cent.
“Investor interest in tech stocks remained strong as the NASDAQ Composite Index rose 3.9 per cent in June,” says Waksman.
The Equity Short Bias Index lost 2.42 per cent in June, and European Equities were down 0.50 per cent.
“Although US and Asian equity markets rallied, the European economy remains beset by woes which drove prices lower on the DAX and FTSE," says Waksman.
After two quarters, Healthcare & Biotechnology has gained 11.09 per cent, Distressed Securities are up 6.54 per cent, the Event Driven Index has gained 5.97 per cent, Fixed Income Arbitrage is up 4.65 per cent, and Equity Long Bias has gained 3.94 per cent.
Equity Short Bias has lost 8.93 per cent year to date, the Technology Index is down 1.57 per cent, Global Macro has lost 0.39 per cent, and Pacific Rim Equities are down 0.22 per cent.
The Barclay Fund of Funds Index gained 0.94 per cent in June, and is now up 1.88 per cent in 2014.