S&P said in a news release that the June showing of its primary hedge fund index led to a 3.4% return for the previous three months and 5.96% year to date as of June 30. The S&P Event-Driven sub-index enjoyed a 1.43% June showing, a 6.42% return for the quarter and a 9.51% advance year to date.
Among the other sub-indices, the S&P Arbitrage Index showed a 0.25% gain in June, a 0.81% giveback over the quarter and a 1.52% return on a year to date basis. The S&P Directional/Tactical Index suffered a 0.30% loss for June, but turned in a 4.58% advance for the quarter and a 6.85% boost for the year.
Meanwhile, the S&P Managed Futures Index had a 5.3% decline in June, a 1.61% gain over the quarter and a 7,34% showing year to date. The Managed Futures index is designed to be an investable benchmark focusing on trading methodologies that constitute a significant portion of the managed futures investment strategies. The Index has 14 constituents, four of which are also constituents of the S&P Hedge Fund Index, which was launched in November (See S&P Introduces Hedge Fund Index ).
The S&P Hedge Fund Index was up 1.84% in May (See S&P Hedge Fund Index Ticks Up in May).