NEW YORK (HedgeWorld.com)–Morgan Stanley Capital International released the first returns for its new family of hedge fund indexes.
The MSCI Hedge Fund Composite Index returned -0.54% in June and is up 1.44% year-to-date through June. MSCI also calculates asset-weighted returns for selected indexes. MSCI’s Asset Weighted Hedge Fund Composite returned -0.45% in June and 0.87% year-to-date through June.
One of the main drivers of the MSCI Hedge Fund Composite Index came from what MSCI calls the Security Selection process group, which contains mostly equity long/short funds. Security Selection funds returned -2.66% in June and -0.89% year-to-date. The MSCI Asset Weighted Security Selection Index returned -2.36% and -1.7% in the same respective periods.
The Directional Trading category, which contains global macro style funds, was the best performing hedge fund grouping in June, with a return of 5.31%. For the year through June, Directional Trading funds in the index returned 5.66%. Returns for the asset-weighted versions of the indexes were 5.64% and 5.4%, respectively.