NEW YORK (HedgeWorld.com)–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%.