Hedge funds continued their positive ways in June, riding a continuing stock market recovery and reopening economies to a 2.04 percent monthly return, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 1.99 percent in June.
Year-to-date, the hedge fund industry was down 2.71 percent. The S&P 500 Total Return Index was down 3.08 percent over the same period.
All sectors but one tracked by the Barclay Hedge Fund Indices were in the black for June. The lone exception was the Volatility Trading Index, which was down 1.23 percent for the month.
In spite of continuing bad news regarding the COVID-19 pandemic, there were encouraging economic signs in June. Businesses began to reopen, and there were indications the pandemic’s economic impact might have done its worst