The Van Global Hedge Fund Index, which tracks the performance of hedge funds domiciled in the US and offshore, has reported a gain of 1.4 pe...

The Van Global Hedge Fund Index, which tracks the performance of hedge funds domiciled in the US and offshore, has reported a gain of 1.4 per cent net of fees for its index in June. The year-to-date return through June is 1.5 per cent net.

Kevin Campbell, vice president of VAN said, "Convertible arbitrageurs, who struggled through the first five months of the year, rebounded nicely in June."

He added: "The anticipated sell-off in convertible bonds to fund investor redemptions at quarter-end did not materialize. This, combined with strong new issuance in the convertible market and attractive valuations, provided managers in this strategy with investment opportunities."

Separately, the Barclay Group has released the Barclay Index Flash Estimates for June 2005. With more than 1,200 funds reporting June returns, the Barclay/Global HedgeSource Hedge Fund Index is up 1.79 per cent, and the Barclay CTA Index (Commodity Trading Advisor) is up 1.56 per cent.