Hedge Funds gain in June

According to HFRX most of the Hedge Fund strategies were positve for June, but stay under water for the year.

	Daily - 06/30/2005				Jun	2004	2003
HFRX Index	DTD	MTD	YTD	Value *	ROR	TOTAL	TOTAL
Glob Hedge	-0.0083	0.9148	-1.7511	1116.85	0.91	2.69	13.39
Equal Weight	0.0478	0.4499	-1.8225	1094.87	0.45	2.73	11.32
Abs Return	0.0954	-0.1262	-2.9714	994.66	-0.13	3.20	11.95
Market Dirl	-0.0666	2.2908	-1.7663	1027.14	2.29	4.84	25.22
Conv Arb	0.0997	-0.0528	-8.3388	938.32	-0.05	-0.14	8.85
Dist Sec	0.3280	0.1876	-1.9198	1231.41	0.19	8.95	20.90
Equity Hedge	-0.0860	1.8468	-1.2436	1131.49	1.85	2.19	14.47
Equity MN	0.1770	-0.0848	0.6750	981.38	-0.08	0.33	-2.38
Event Driv	-0.0084	1.1407	-0.5349	1241.19	1.14	6.93	18.74
Macro Index	0.0067	0.5424	-2.4225	1086.84	0.54	-0.32	14.61
Merg Arb	-0.1150	0.7260	2.6856	1097.79	0.73	2.80	4.26
Rel Val	-0.0251	-0.6030	-2.2512	1065.53	-0.60	1.98	9.15