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Portfolio > Mutual Funds > Equity Funds

MSCI Hedge Fund Index Returns 0.15% in June

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NEW YORK (–The final MSCI Hedge Fund Composite Index returns for June were 0.15%, bringing the MSCI Index’s returns to 1.61% for the year-to-date period through June 30.

The best performing hedge fund “process group” tracked by MSCI was the MSCI Specialist Credit Index, which returned 1.27% in June and 5.25% year-to-date through June. That index includes distressed securities funds, long/short credit funds and private placement funds. May’s preliminary return for the Specialist Credit Index was revised to negative 0.1% from 0.0% in MSCI’s initial report (see ).

The MSCI process group containing futures funds, global macro funds and tactical asset allocation funds–the MSCI Directional Trading Index–was June’s worst performer with a return of negative 1.84%, bringing its return for the first six months of the year to negative 2.68%. In May, the Directional Trading Index returned negative 1.3% after a preliminary report of negative 1%.

The MSCI Security Selection Index, made up of long/short equity funds, equity market neutral funds and short-biased funds, returned 0.89% in June and 2.68% year-to-date through June. In May, the Security Selection index returned negative 0.6% following an early report of negative 0.7%.

The MSCI Multi-Process Group Index, which includes event-driven and multi-process funds, returned 0.66% in June and 3.51% year-to-date through June. The Multi-Process Group returned negative 0.5% in May following a preliminary report of negative 0.4%.

The MSCI Relative Value Index returned negative 0.25% in June and positive 1.08% in the January through June period. The Relative Value index includes arbitrage, merger arb and statistical arb funds. That index returned negative 0.3% in May, a revision from negative 0.4% in the preliminary tabulation by MSCI.

The MSCI World Equity Index returned 2.05% in June and 3.52% in the first six months of the year, while the MSCI World Sovereign Debt Index returned 0.04% and negative 1.61% in the same respective periods.

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