Assets in hedge funds rose 1.31% in June, according to the CSFB/Tremont Hedge Fund Index, which was released Friday.
Oliver Schupp, the president of Credit Suisse First Boston Tremont Index LLC and a senior member of the CSFB hedge fund investments group, said results in the long-short equity and event-driven sectors were spurred to a "strong finish" for the year's first half by rallying European equity markets and tightening credit markets.
Managed futures again were the highest-performing strategy, returning 4.22% last month.
The CSFB/Tremont index comprised 409 funds with $345 billion of assets under management at June 30.
It is constructed from a CSFB/Tremont database of more than 4,500 hedge funds and includes both open and closed funds in the United States and offshore - but does not include funds of funds. A fund must have at least $50 million of assets under management, a 12-month track record, and audited financial statements in order to qualify for inclusion in the index.
