WEST PALM BEACH, FL (www.hedgeco.net) – The Van Global Hedge Fund Index rose 1.4% net of fees in June according to Van�s preliminary data just released. Kevin Campbell, Vice President of Van said,”Hedge funds performed well for the second consecutive month. Convertible arbitrageurs, who struggled through the first five months of the year, rebounded nicely in June. The anticipated sell-off inconvertible bonds to fund investor redemptions at quarter-end did not materialize. This, combined with strong new issuance in the convertible market and attractive valuations, provided managers inthis strategy with investment opportunities.”
According to Van, many of the global equity indexes were also positive in June, the S&P 500, MSCI World Equity Index, Russell 2000, and Dow Jones Europe Stoxx Index gained 0.1%, 0.7%, 3.7%, and 1.4%, respectively. The NASDAQ and Dow Jones Industrial Average, however, fell -0.5% and -1.7%, respectively, and the Lehman Brothers Aggregate Bond Index gained 0.6%.
With such modest gains by hedge funds in June, the Van Global Hedge Fund Index climbed further into the positive territory with net gains of 1.5 percent year-to-date. According to Van, only the bond index beat the Van Global Hedge Fund Index, with a year-to-date return of 2.5 percent.
The Van Global Hedge Fund Index measures average hedge fund performance back to 1988. The Index has shown a gain over each of the last 17 years, underscoring hedge funds’ reputation as absolute return vehicles. Since its inception through last month, the Index has produced a compound annualized return of 15.6% net.
Van will release updated June returns, which is generally regarded as the final data for the month by mid-July. That calculation is based on a larger sample of funds. Van Money Manager Research, LLC (“VAN”) is a hedge fund index provider that constructs hedge fund indices based on performance information received from hedge funds domiciled in the U.S. and offshore.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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