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Global financial markets delivered mixed performance in June, trading within a wide and volatile intramonth range as investors positioned for the record IPO of SpaceX and other offerings expected through midyear. Global equity markets also posted mixed results, as Technology and AI-related sectors oscillated between risk-on and risk-off sentiment, while also responding favorably to falling Oil prices and positive developments in the Iran military conflict. Short-duration interest rates rose, while longer-dated maturities were little changed, as inflationary pressures remained a key focus for investors. The U.S. dollar strengthened against most major currencies. Oil posted a sharp decline, leading commodity declines. Gold and other metals also declined, while agricultural commodities delivered mixed performance.

The HFRI-I Liquid Alternative UCITS Index posted a gain of +0.58% in June.

• HFRI-I Equity Hedge Index gained +1.11%
• HFRI-I Relative Value Index gained+0.56%
• HFRI-I Event Driven Index gained +0.37%
• HFRI-I Macro Index declined -0.31%

Comments reference performance as of June 30, 2026