Saturday, 30 May 2015
Last updated 22 hours ago
Aug 9 2010 | 11:23am ET
Hedge fund gained ground in July, but badly lagged the broader markets, according to a pair of prominent hedge fund indices.
The Hennessee Global Hedge Fund Index rose 1.87% last month, while Hedge Fund Research’s HFRI Fund Weighted Composite Index added 1.82% on the month. The latter is now back in positive territory on the year, at 1.52%.
Equity hedge funds returned 2.88% on the month (0.88% year-to-date), according to HFR, paced by energy and basic materials funds, which rose 3.79% (down 2.92% YTD) and technology and healthcare funds, which rose 2.38% (1.51% YTD). On the other hand, short-bias funds plummeted 6.3% on the month (down 8.54% YTD) as the Standard & Poor’s 500 Index soared more than 7%.
Event-driven hedge funds rose 2.19% on the month (4.7% YTD), relative value funds rose 1.5% (5.33% YTD) and macro funds 0.28% (down 0.74% YTD).
Emerging markets funds were up across the board, rising 3.77% on the month (2.36% YTD). Latin America funds soared 4.63% in July (1.16% YTD), followed by Russia and Eastern Europe funds (4.11% in July, 5.31% YTD) and Asia ex-Japan funds (3.61%, 0.57% YTD).
Funds of hedge funds were up 0.74% last month, but remain down 0.47% on the year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…