The EACM 100 index, which measures hedge fund returns, posted a 2.4% gain in June. The best results came from equity hedge funds, which were up 4.3% for the month. The event-driven managers were a close second, rising 3.1% in June. The global asset allocators had a smaller, 1.9% return for the month, while the relative value managers posted a 1.2% return for June. The only losses for the month were reported by short-sellers, which were down 2.2% for June. Evaluation Associates Capital Markets produces the index.