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

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.