New York (HedgeCo.net) – The combination of Greece’s debt situation and the sell-off in Chinese stocks caused one hedge fund index to lose the most it has lost in two years.
The Hedge Fund Research HFRI Weighted Composite Index to drop 1.3% and that is its worst monthly loss since June 2013. The HFRI Macro Index fell 2.4% during the month and that wiped out the year to date gains for that index.
With the Chinese market being a partial source for the global selling, the HFRI EM China index fell 3.5% in June, but the index was still up 19% YTD at the end of the month.
The global sell-off took its toll on most indices, but as would be expected, it helped the HFRI EH Short Bias Index. This particular index gained 0.3% during the month of June, but remains down for the year.
Rick Pendergraft
Research Analyst
HedgeCoVest
