Hedge Funds and CTAs Strong in June

Barclay/GHS Index Up 1.79%, CTAs Up 1.56%

Fairfield, Iowa, July 7, 2005 -- The Barclay Group released today the Barclay Index Flash Estimates for June 2005. With more than 1200 funds reporting June returns, the Barclay/Global HedgeSource Hedge Fund Index is up 1.79 percent, and the Barclay CTA Index is up 1.56 percent. Barclay is the world's leading provider of hedge fund and managed futures data.

"Against a backdrop of lackluster returns for equities, June's results-positive returns across a wide spectrum of alternative investment strategies-eloquently argue the case for the benefits of diversification," says Sol Waksman, president of The Barclay Group. "Even Convertible Arbitrage, which is having its worst year since we started keeping statistics on the sector in 1997, gained 1.69% in June."

During June, all 18 of the hedge fund strategies tracked by Barclay were profitable, continuing the gains seen in May. The Global Macro Index rose 2.94 percent, European Equities gained 2.61 percent, and Healthcare and Biotechnology was up 2.46 percent.

Five out of six Barclay managed futures indexes showed gains. The Financials & Metals Traders Index gained 2.16 percent, followed by Systematic Traders and Discretionary Traders, both up 1.50 percent. The Agricultural Traders Index lost 0.63 percent.

The Barclay BTOP50 Index, which measures the performance of the largest CTAs, rose 2.00 percent in June.

For more commentary, call Sol Waksman at 641-472-3456, or email sol@barclayhedge.com.

Visit www.barclaygrp.com to view or download seven years of Barclay/GHS Hedge Fund Index data, or 18 years of Barclay BTOP50 Index data.

The Barclay Group, founded in 1985, actively tracks more than 4400 hedge funds and managed futures programs. The Barclay/Global HedgeSource hedge fund indexes are utilized worldwide as performance benchmarks for the hedge fund industry.