Hedge funds outpaced indexes in first half of year

The hedge fund industry experienced gains in the first half of the year, according to data released today by Hennessee Group LLC of New York.
JUL 08, 2009
By  Sue Asci
The hedge fund industry experienced gains in the first half of the year, according to data released today by Hennessee Group LLC of New York. The firm's Hennessee Hedge Fund Index posted a gain of 0.64% for the month of June, and 11.74% for the year to date through June 30, the report said. To date, the index has outpaced the Standard & Poor's 500 stock index, which gained 0.02% in June and had a year-to-date return of 1.78%, as well as the Dow Jones Industrial Average, which declined 0.63% in June and has posted a 3.75% decline year to date. The Nasdaq Composite Index gained 3.10% in June with a year-to-date return of 16.36%. Bonds have also risen, with the Barclays Aggregate Bond Index posting a gain of 0.57% for the month, and a 1.90% increase year-to-date, the report found. Still, the industry should not be complacent about the gains, according to Charles Gradante, co-founder of the Hennessee Group. “I think we have reached an inflection point, as momentum seems to have faded,” he said. “We should see a return to stock picking based on fundamentals, which are rather negative. In addition, the technicals are also bad, leading us to believe in a summer correction,” he said in a statement.

Latest News

Summit Financial, MassMutual boost advisor appeal with growth-focused tech
Summit Financial, MassMutual boost advisor appeal with growth-focused tech

Summit Financial unveiled a suite of eight new tools, including AI lead gen and digital marketing software, while MassMutual forges a new partnership with Orion.

SEC enforcement actions drop sharply, with focus shifting to investor fraud
SEC enforcement actions drop sharply, with focus shifting to investor fraud

A new analysis shows the number of actions plummeting over a six-month period, potentially due to changing priorities and staffing reductions at the agency.

MAI inks mega-deal with Evoke Advisors to form $60B AUM firm
MAI inks mega-deal with Evoke Advisors to form $60B AUM firm

The strategic merger of equals with the $27 billion RIA firm in Los Angeles marks what could be the largest unification of the summer 2025 M&A season.

Employees tapping retirement funds amid financial strain, led by Gen Zs
Employees tapping retirement funds amid financial strain, led by Gen Zs

Report highlights lack of options for those faced with emergency expenses.

LPL Financial on target to retain 90% of Commonwealth financial advisors, Wolfe Research analyst says
LPL Financial on target to retain 90% of Commonwealth financial advisors, Wolfe Research analyst says

However, Raymond James has had success recruiting Commonwealth advisors.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.