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HEDGE FUNDS SLIP IN JUNE

3 July 2009 by Cullen Roche 0 Comments

After a stellar June hedge fund returns were mixed in June.  IDD Magazine reports:

Preliminary data released by Credit Suisse suggests hedge fund performance was mixed in June, following stellar returns in May. Jordan Drachman, head of research for alternative beta strategies at Credit Suisse, attributed the mixed results to “market uncertainty,” and said hedge fund managers played the markets cautiously in June.

“Many funds are poised to capitalize on forthcoming market rallies by maintaining a positive net exposure to equity markets,” Drachman said in a press release.

To illustrate the mixed results, the Credit Suisse Long/Short Equity Replication Index slipped 0.57% last month, while the Credit Suisse Global Macro Replication Index inched up 0.33% in June.

Index performance is calculated on a daily basis. The indices are designed to replicate the performance of major hedge fund strategies, such as long/short equity and global macro.

The final statstics for June are to be published on July 15.

Source: IDD

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