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Hedge fund industry up 9.41 per cent in first half of 2009

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Following best performance in nearly a decade in May, the hedge fund industry ended the second quarter in a more muted fashion, with the HFRI Fund Weighted Composite Index posting a gai

Following best performance in nearly a decade in May, the hedge fund industry ended the second quarter in a more muted fashion, with the HFRI Fund Weighted Composite Index posting a gain of 0.13 per cent, according to Hedge Fund Research.

The industry concludes the first half of 2009 with a gain of 9.41 per cent, after posting a record loss of 19.04 per cent in 2008.

Relative value arbitrage and event driven strategies posted the strongest performance in June, with the HFRI Relative Value (Total) Index gaining 1.88 per cent and HFRI Event Driven (Total) Index gaining 1.63 per cent.

The Convertible Arbitrage Index, which declined 33.7 per cent in 2008, has gained 29.85 per cent in first half 2009.

HFRI Equity Hedge (Total) Index posted a modest loss of 0.11 per cent in June to end the first half of 2009 with a gain of nearly 12 per cent.

Funds focused on energy and basic materials lost 3.12 per cent in June, but have gained approximately 19 per cent for first half 2009.

HFRI Macro (Total) Index posted a loss of 0.91 per cent in June, to end the first half of 2009 with a modest gain of 1.3 per cent. Macro funds gained 4.83 per cent in 2008 as many other strategies experienced losses.

Systematic macro strategies, which gained over 18 per cent in 2008, have lost 3.4 per cent in the first half of 2009

HFRI Emerging Markets (Total) Index concluded the first half of 2009 with a gain of 0.65 per cent in June, bringing first half performance to 20.3 per cent.

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