The Van Global Hedge Fund Index gained 1.5% net of fees in June, according to hedge fund index provider Van Money Manager Research. That is a sizable uptick from May, when hedge funds posted 0.6% returns. The index represents the average return of hedge funds tracked by Van. Currently the year-to-date return for the index is 1.6%.

"Hedge funds posted strong returns on average during June," Kevin Campbell, vice president of Van, said. "More than 80% of funds produced positive returns and beat the S&P 500."

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