Hennessee Hedge Fund Index rose 0.64% in June

Date: Thursday, July 9, 2009
Author: Marketwatch.com

An index of hedge funds run by consulting firm Hennessee Group LLC rose 0.64% in June, leaving it up 11.74% in the first half of 2009, easily out-pacing equity and bond market benchmarks. The Standard & Poor's 500 index rose 0.02% in June and was up 1.78% in the first half, while the Barclays Aggregate Bond Index gained 0.57% last month, leaving it up 1.90% in the first half, Hennessee said. Managers focused on Latin America and convertible arbitrage performed the best in the first half of 2009, returning 26.05% and 21.48% respectivaly. Short-biased hedge funds performed the worse in the period, losing 5.2% on average, Hennessee reported