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Hedge funds down 0.40 per cent in May

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Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished May down 0.40 per cent, with five out of 10 strategies in positive territory.

In total, the industry saw estimated outflows of approximately USD2.53bn in June, bringing overall assets under management for the industry to approximately USD1.73trn.

The equity market neutral and fixed income arbitrage sectors experienced the largest asset inflows on a percentage basis in June, with inflows of 0.93 per cent and 0.43 per cent from May 2012 levels, respectively.

Long/short equity funds posted positive performance as June was somewhat of a "risk-on" month and select bank exposure performed positively as financials, in general, were positive.

Event driven funds generated overall negative performance in June against the continued backdrop of an uncertain economic environment. While M&A activity experienced a slight decline in newly announced transaction volume in June, credit strategies generated gains during the month due to supportive technical conditions and improved risk appetite from investors.

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