Traders work on the floor of the New York Stock Exchange (NYSE) in New York.
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Strong, widespread gains in June catapulted hedge funds to their best start to a calendar year in a decade as equity bets, trend-following and activist strategies paid off.
Funds rose 5.7% in the six months through June 30, according to Hedge Fund Research Inc.’s asset-weighted index of managers; its fund-weighted index gained 7.6% over the same period. Breaking down the numbers, fund performance was led by equity hedging strategies, with year-to-date performance up 9.4%.
“Hedge funds posted broad-based gains to conclude the strongest first half of a calendar year, with varied and wide range of leadership including equity, technology, M&A-focused, trend-following, quantitative and blockchain/cryptocurrency exposures,” Kenneth Heinz, HFR’s president, wrote in a release.
“It is likely that the W-shaped equity market pattern will continue throughout 2H19, with funds…