Eureka: Hedge Funds Drop 0.5%

Jul 15 2010 | 11:51am ET

Hedge funds shed 0.5% last month, burned by volatile equity markets.

The Eurekahedge Hedge Fund Index posted its second straight monthly loss in July, leaving it essentially flat—down less than 0.1%—through the first half. Equity hedge funds took it especially hard, losing 1.1% on the month.

Commodity trading advisers had the best July of any strategy tracked by Eurekahedge, rising 0.6%. Fixed-income funds added 0.5%, enjoying the second-best return of the first half, following distressed debt funds, which rose 6.4% between January and June.

Regionally, four of seven indices took a dive last month, none more so than that track Eastern European and Russian hedge funds, which dropped 2.3%. North American hedge funds shed 0.9%.

Latin America funds were the best bet in June, adding 1%, and 1.5% through the first half. Asia ex-Japan funds plummeted 3.1% on the half, the worst of any regional index.

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