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Hedge funds stay ahead of the pack

By Aaron Siegel
July 10, 2007, 2:31 PM EST
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Hedge funds have beaten out the major indicators in the month of June.

Hedge Fund Research Inc.'s Weighted Composite Index gained 1.11% in June, pushing the index up 7.97% year-to-date.

Meanwhile, Hennessee Group LLC's Hedge Fund Index rose 0.88% in June and is up 8.71% year-to-date.

Both indexes beat out the Standard & Poor's 500, Dow Jones Industrial Average and Nasdaq Composite, which declined 1.78%, 1.61% and 0.05% during the month, respectively.

HFR's emerging markets, short-selling and technology strategies had the strongest month, increasing 2.96%, 2.03% and 2.01%, respectively.

"Emerging markets did particularly well in Eastern Europe," said Ken Heinz, president of Chicago-based HFR. "That was the best performing geographic area."

HFR's real estate and health care/biotech fund categories fell 2.90% and 1.51%, respectively.

Meanwhile, New York-based Hennessee's distressed debt and Merger Arbitrage indexes fell 0.32% and 0.2% respectively.



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