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Eurekahedge Index Flash - June 2010

Eurekahedge Index Flash - June 2010

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Published by: Eurekahedge on Feb 08, 2011
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Index Flash
Hedge funds down 1.88% in May
June 2010
 Hedge funds were down 1.88% on average in May – a month that sawglobal markets shed significant value. However, the hedge fund sector’syear-to-date performance remains in the black, with the EurekahedgeHedge Fund Index advancing 1.30% May YTD. In comparison, the MSCIWorld Index was down 9.91% in May, standing at -7.64% for the year sofar.
Hedge funds were up 1.30% YTD (May 2010), outperformingglobal markets by 8.94% YTD.
Distressed debt hedge funds added a 14th consecutive positivemonth, gaining 50.91% over this period.
The first five months of the year saw nearly 220 fund launchesacross the globe.
Main Indices
 Index May 2010Est
 2010 YTDReturns 2009Returns Eurekahedge Hedge Fund Index-1.881.30 19.72Eurekahedge Fund of Funds Index-2.42 -0.339.71Eurekahedge Long-Only AbsoluteReturn Fund Index-7.14 -1.0447.87Eurekahedge Islamic Fund Index-4.56 -0.8621.53
Regional Indices
 May turned out to be a tough month for global markets as they were hitby a series of bad news. The ‘flash crash’ of US markets on 6 May was anominous sign at the start of the month, followed by sudden dips in theAsian markets a few days later. The continuing sovereign debt problemsin the eurozone, the major oil spill in the Gulf of Mexico, fears of aconflict in Korea and the unrest in Thailand all contributed to heightenedvolatility in global markets and affected the already fragile marketsentiment.Hedge funds across all regional mandates ended the month in negativeterritory; however, managers of all regional mandates beat theirrespective underlying market indices. In absolute terms, Latin Americanand North American managers were the best performers for the month(in the sense of losing the least), down 0.87% and 0.92%, respectively,while the Bovespa was down 6.64% and S&P 500 lost 8.2%. In relative
Index Flash
Hedge funds down 1.88% in May
terms, European hedge funds delivered the most outperformance, down2.72%, beating the MSCI Europe Index by more than 10%.Index May 2010Est
 2010 YTDReturns 2009Returns Eurekahedge North American HedgeFund Index-0.923.43 23.72Eurekahedge European Hedge FundIndex-2.731.30 20.68Eurekahedge Eastern Europe & RussiaHedge Fund Index-7.572.27 61.21Eurekahedge Japan Hedge FundIndex-3.134.04 7.22Eurekahedge Emerging MarketsHedge Fund Index-3.61 -0.6734.99 Eurekahedge Asia ex-Japan Hedge
Fund Index-4.86 -3.1538.08 Eurekahedge Latin American HedgeFund Index-0.870.43 27.30
Strategy Indices
 Performance across most strategic mandates was negative for the monthamid sharp movements, volatility and trend reversals across differentasset classes. Distressed debt managers, however, continued to deliverpositive returns for the 14th consecutive month, gaining a marginal0.03% in May and 50.91% since March 2009. Macro-investing fundsposted the highest returns for the month, gaining 0.29%. Long/shortequity managers lost the most in absolute terms, down 3.63%, due tothe large drops seen across global equity markets during the month.Index May 2010Est
 2010 YTDReturns 2009Returns Eurekahedge Arbitrage Hedge FundIndex-1.781.63 23.61Eurekahedge CTA/Managed FuturesHedge Fund Index-0.200.60 2.77Eurekahedge Distressed Debt HedgeFund Index0.03 8.81 34.81Eurekahedge Event Driven HedgeFund Index-2.053.42 39.83Eurekahedge Fixed Income HedgeFund Index-0.094.26 21.55Eurekahedge Long/Short EquitiesHedge Fund Index-3.63 -0.1723.72Eurekahedge Macro Hedge FundIndex0.29 2.14 12.92Eurekahedge Multi-Strategy HedgeFund Index-2.010.96 20.91Eurekahedge Relative Value HedgeFund Index-0.333.48 21.12Eurekahedge indices are available for download fromwww.eurekahedge.com/indices/hedgefundindices.aspand are updatedwith the latest fund returns at 23:30 GMT every day. Index values anddata can be downloaded for free and subscribers can download the fulllist of index constituents. Please contactindices@eurekahedge.comfor

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