Both the Greenwich Global Hedge Fund Index ("GGHFI") and the Greenwich Composite Investable Index ("GI2") lost only a fraction of their gains in May, posting –0.42% and –0.38% on the month, respectively, well ahead of the S&P 500 Total Return (–8.43%), MSCI World Equity (–8.10%), and FTSE 100 (–7.06%) equity indices. Year–to–date, both the GGHFI and the GI2 remain flat, returning an identical –0.10%, while the S&P 500 Total Return, MSCI World Equity, and FTSE 100 Indices have produced returns of –11.92%, –11.76%, and –12.87%, respectively.
"The downside protection that characterizes hedge funds is clearly evident this year with long–only equity indices experiencing losses of 10% or more while hedge funds are essentially flat," notes Margaret Gilbert, Managing Director.
The GGHFI Directional Trading managers were the strongest performing group in June, posting a return of 2.02%. Market Neutral Funds lived up to their description during the month, gaining 0.32% despite turbulent circumstances in debt and equity markets. GGHFI Long–Short Equity funds lagged the global index during the month, losing –1.30%. The weakness in this sector was punctuated by an exceptional month for Short–selling managers who gained 9.39%, making them the second best performing sub–strategy group on the year. Finally, GGHFI Specialty Strategy managers exhibited the weakest returns among funds in June, returning –1.86% on average.
The June GGHFI currently includes 1058 constituent funds. Final June results will be posted at www.greenwichai.com in early July, once additional funds have submitted returns.
The Greenwich Investable Index, comprising 48 constituent funds, adds investability, active management, and liquidity to the diversification and performance benefits of the broad GGHFI. It references actual hedge fund vehicles as opposed to separately managed accounts or other methods used in an attempt to replicate the returns of hedge fund vehicles. The GI2 is reported semi–monthly net of a 0.02% per period index calculation fee. Past performance and indices construction rules are available on www.greenwichai.com.
About Greenwich Alternative Investments
Greenwich Alternative Investments, LLC (and its affiliates) manages one of the world´s largest hedge fund databases and is among the oldest providers of hedge fund indices, asset management services, and research to institutional investors worldwide.
