Bloomberg Indices: Hedge Fund Gain 2.37% In July

Aug 17 2010 | 12:52pm ET

Hedge funds gained 2.37% in July, but are down 0.86%, according to Bloomberg's global hedge fund indices.

Equity Statistical Arbitrage led the pack, returning 3.92% in July (0.68% YTD), with Equity Fundamental Market Neutral close on its heels, gaining 3.78% for the month (-7.74% YTD).

The only strategy to lose ground was Mortgage Backed Arbitrage, which dipped 0.65%, but is still up 5.72% YTD.

Fund of hedge funds faired slightly better, on average, with that category returning 2.45% in July (-3.64% YTD).

BLOOMBERG HEDGE INDEX

July YTD
Equity Statistical Arbitrage 3.915 0.682
Equity Fundamental Mkt. Neut. 3.783 -7.743
Capital Structure/Credit Arb. 3.654 9.466
Long/Short Equity 3.131 -3.371
Fixed Income 2.559 -0.703
Emerging Market Equity 2.275 2.205
Short Bias Equity 2.175 -0.716
Fixed Income Arbitrage 2.061 4.965
Distressed Securities 1.991 7.996
Merger Arbitrage 1.805 -2.263
Asset Backed 1.689 3.85
Long Bias Equity 1.408 -3.019
Multi Style 1.046 -1.402
CTA/Managed Futures 0.948 -4.188
Macro 0.875 -0.78
Convertible Arbitrage 0.725 0.231
Emerging Market Debt 0.462 1.433
Mortgage Backed Arbitrage -0.653 5.723
------------------------------------------------------------------
Aggregate Hedge Fund * 2.367 -0.858
  Fund of Hedge Fund * 2.453 -3.649
*denotes aggregate indices    

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Editor's Note