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Eurekahedge June 2010 Performance Commentary - Abridged

Eurekahedge June 2010 Performance Commentary - Abridged

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Published by Eurekahedge
Hedge funds performance was marginally down in June as the Eurekahedge Hedge Fund Index lost 0.59% amid high volatility and trend reversals in underlying markets. The managers have, however, continued to outperform global markets by more than 10% June year-to-date.
Hedge funds performance was marginally down in June as the Eurekahedge Hedge Fund Index lost 0.59% amid high volatility and trend reversals in underlying markets. The managers have, however, continued to outperform global markets by more than 10% June year-to-date.

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Published by: Eurekahedge on Jan 17, 2011
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01/17/2011

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July 2010
 
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June 2010 Hedge Fund Performance Commentary
Eurekahedge
Introduction
Hedge fund returns were flat to marginally negative in June as most managers steered cautiously throughvolatile markets.
The composite Eurekahedge Hedge Fund Index registered -0.59% returns for the monthagainst the backdrop of a 3.56% drop in global equities and a sharp rise of risk aversion towards theend of the month (The Volatility Index on the Chicago Board of Options Exchange gained 37% from mid-to end-June). Furthermore, hedge funds have also continued to outperform underlying markets Juneyear-to-date ± the MSCI World Index is down -10.88% YTD while the average hedge fund fell only0.12% for the year.Hedge funds finished the month with a mixed performance across regional mandates. Downsideperformance was restricted to less than 2% in most regions while Latin American hedge funds rose0.43%, largely due to the strong performance by multi-strategy managers (0.42%), who form the bulkof the index. In contrast to the 3.78% drop in the MSCI Latin American Index, all Latin American hedgefund strategies posted positive returns last month, with the exception of the offshore macro andlong/short equity managers.The chart below shows the hedge fund returns for May and June 2010 across different geographicalmandates.
May and June 2010 Returns
Japanese hedge funds continue to lead in the YTD measure, with the Eurekahedge Japan Hedge FundIndex up 1.61% June YTD. Japanese long/short equity managers, the largest constituents of the indexby strategy, have a successful first six months, with the funds gaining 1.71% ± ahead of the Topix by9%.North American managers are up 0.64% YTD, driven largely by the performance of distressed debt(6.09%) and fixed income-investing hedge funds (5.07%). The heightened volatility and risk aversion in1H2010 sparked a rush to safety among investors, increasing the demand for treasuries and corporatebonds in the US. The portfolio values«

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