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Hedge funds log first monthly drop of year in June

MarketWatch – Hedge funds declined 1.3% in June, smaller than the decline logged by the broader market, according to a monthly report from industry adviser Hennessee Group LLC.

“Hedge funds posted their first monthly loss of the year in June,” said Charles Gradante, co-founder of Hennessee. “While June saw the return of a ‘risk-on, risk-off’ trading environment, many managers maintained portfolio exposures, viewing the correction as technical in nature and not reflective of a change in underlying fundamentals.”

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