According to figures released on Thursday by the Hennessee Hedge Fund Advisory Group, the average hedge fund was up 1.5% in June.
However, the firm revealed that as Asian economies began to recover from the SARS epidemic, its Pacific Rim index showed a massive 3.42% increase last month, mainly as a result of a strong Chinese performance.
According to observers, hedge funds investing exclusively in Pacific Rim countries are not currently very popular with fund managers or investors, but have been tipped as a growth area for the future.
Other strong performers in the Hennessee Hedge Fund Index included the Health and Biotech Index, which returned 2.54% last month, and the Event Driven Index, which returned 2.17%.
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