Event-Driven Leads S&P Index Heap

NEW YORK (HedgeWorld.com)–While the overall S&P Hedge Fund Index was up only a timid 0.47% for June, the S&P Event-Driven Index gained 1.43% for June, topping both the overall index and the S&P 500 stock index, according to the latest Standard & Poor’s Hedge Fund Index report.

For the year-to-date, the S&P Hedge Fund Index was up 5.96%, lagging the traditional asset benchmark of the S&P 500, which was up 1.13% for the month and 10.76% for the year-to-date Previous HedgeWorld Story.

The S&P Managed Futures Index fell from grace in June after topping the index in May with a 6.4% gain for that month. Managed futures strategies had a healthy run in May, also topping performance the month before, and have also performed well on other hedge fund indexes. But June was a different story, showing how volatile the asset class can be. The managed futures index lost 0.53% in June. For the year-to-date, managed futures still have given investors a positive 7.34%.

The S&P Event-Driven Index also led other index categories for the year-to-date gaining 9.51%. For the month, the rest of the indexes in the S&P family had less than stellar performance.