Early Numbers Say July Is Best Month Of ‘10

Aug 3 2010 | 12:27pm ET

Following a dreadful second quarter, hedge funds needed to get off to a good start in the third, and they appear to have done just that.

Hedge funds enjoyed their best monthly return of the year in July, according to Credit Suisse’s Liquid Alternative Beta indices. The overall LAB index rose 3.12% on the month, pulling it out of the red and leaving the index up 2.99% on the year.

Event-driven funds were the strongest performers with a 4.22% July jump (5.93% year-to-date). Long/short funds also did well, adding 3.3% (2.05% YTD).

The LAB merger arbitrage index rose 1.87% (5.99% YTD), while the LAB global macro index added 1.65% (1.1% YTD).


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