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Global financial markets posted gains for June, trading in a wide intra-month range on high realized volatility as optimism over economic reopening was offset by concerns about a second wave of coronavirus contagion. US equities gained for the month led by Technology, Energy & Commodity exposures, while European & Asian equities also gained. US interest rates were little changed for the month, with the Federal Reserve indicating interest in keeping rates low for an extended period of time. The US Dollar declined on outlook for low rates, while Copper & Gold let gains in Metals; Oil led Energy commodity gains while Soybeans led Agriculturals. UCITS hedge fund strategies posted gains with the HFRU Hedge Fund Composite Index Index gaining +0.79% for the month.

HFRU Equity Hedge Index gained +1.01 in June
HFRU Event Driven Index gained +0.26%
HFRU Macro Index posted a gain of +0.16%
HFRU Relative Value Arbitrage Index gained +1.22%

Comments reference performance as of June 30, 2020