Hedge Fund Average Declines A Bit

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If you are like us, hedge fund returns are bag of mixed emotions. At one level there is the thrill of watching the wealthy and the great becoming wealthier and greater. (And the possibility that our buddy at DE Shaw will take us to lunch at Nobu.) On the other, there is the secret thrill of watching a financial Icarus fall from the skies. But the thrills really only come when the crash is surprising, brilliant and ends with a final vision of wings sinking into the surf. Or Gatsby floating in his pool. Or [fill in your favorite fall of the great metaphor here].
Slow motion descents aren’t anywhere near as fun. And it won’t come as a surprise to anyone that many hedge funds suffered net losses in June, following a reportedly bad May. But the just-released numbers from the HedgeFund.net database are not as bad as some had feared. The HFN Hedge Fund Aggregate Average, an the equal weighted average of all single manager hedge funds in the database, showed a decline of just 0.14%, with a year-to-date average up 5.92%. Funds concentrated in Asia showed the biggest declines. Funds with a European concentration also declined. There was a modest gain for US funds.

HedgeFund.net Releases Hedge Fund Performance Estimates for June 2006

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