Currency hedge funds produced absolute returns of 1.41 per cent in June 2007, according to the most recent figures from the Parker FX index, which tracks the performance of around 80 currency funds. The median return for June was 0.97 per cent, while for the year to end June, the index was up 2.91 per cent. On a reported basis the top three funds in June were Stark Quantitative Investments, up 8.26 per cent, Portage, up 6.77 per cent, and the Stonebrook FX Carry Program, up 5.82 per cent. Excluding interest and fees, the top funds were Putnam Investments Currency Program, up 4.38 per cent, Stark Quantitative Investments, up 2.91 per cent, and ABN Amro, up 2.58 per cent.