Hedge Funds Rise 1.23% In July

Aug 5 2010 | 1:42pm ET

Hedge funds swung back into the black in July after two straight losing months, but few, if any, funds managed to rise as fast as the broader markets.

The average hedge fund returned 1.23% last month, according to Hedge Fund Research’s HFRX indices. But the Standard & Poor’s 500 Index soared more than 7% in July to cut its year-to-date loss to 0.11%. The HFRX Global Hedge Fund Index is down 0.02% on the year.

Still, all but two of HFRX’s 18 strategy and regional subindices were in positive ground last month—systematic diversified took a big hit, dropped 4.05% (up 0.3% year-to-date), while macro shed 0.63% (down 2.93% YTD). Fundamental growth funds led the way at 4.29% (down 5.48% YTD), followed by market directional at 3.04% (3.02% YTD) and equity hedge at 2.28% (down 1.22% YTD).

Relative value arbitrage funds added 1.76% on the month (2.85% YTD), distressed funds 1.63% (2.01% YTD), convertible arbitrage 1.58% (3.53% YTD), merger arbitrage 1.04% (1.17% YTD), event-driven 0.9% (0.16% YTD), special situations 0.54% (0.57% YTD) and equity market-neutral 0.12% (2.05% YTD).


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of