European Hedge Funds Hit Amid Brexit Volatility

Hedge funds generally found difficulty in June, a Morgan Stanley prime brokerage report finds, with European funds leading the charge lower amid Brexit carnage. Also see top hedge fund letters Hedge funds once again out pace stock indexes to the downside Global hedge funds were down on average -0.39% in June, the Morgan Stanley Prime Brokerage Global Hedge Fund Performance report shows. The soft June performance comes as the group is off -1.72% on the year. The FTSE Global 100 index was down -0.78% over the period, the MSCI Emerging Market index was up 2.92% in June and the S&P 500…