Forbes – The Greenwich-Van Global Hedge Fund Index returned -0.60% in June according to a preliminary report released today by Greenwich-Van Advisors, LLC, a leading hedge fund index provider. In comparison, the S&P 500, NASDAQ, Dow Jones Europe Stoxx Index, and the Lehman Brothers Aggregate Bond Index returned +0.14%, -0.31%, +0.73%, and +0.21%, respectively.<\/p>\n
“Hedge funds had another difficult month in June albeit not to the degree of May,” notes Wade McKnight, Vice President of Greenwich-Van. “Aggregate hedge fund returns were primarily affected by the continued global equity market decline which began in May and persisted into June. Most traditional benchmarks were in negative territory throughout June until the last couple of trading days, at which point many markets rebounded strongly. Many hedge fund managers reduced exposure during recent weeks and were not able to fully participate in the broad market rally near the end of June. Futures managers and emerging market managers suffered most in June, while short sellers, not surprisingly, delivered another solid monthly result.”<\/p>\n
The Index represents the average performance, net of fees, of hedge fund managers that report to Greenwich-Van. Past performance and index construction methodology may be viewed at www.greenwich-van.com.<\/p>\n
The June 2006 Greenwich-Van Global Hedge Fund Index preliminary results included 327 funds. An updated June return for the Index, based on a larger sample of funds, will be released in mid-July; final results will be available at the end of July. Additional Greenwich-Van Indices, which show average June hedge fund performance for individual investment strategies and broad strategy groups, will also be available at mid-month and month-end.<\/p>\n