Monday, 6 July 2015
Last updated 57 min ago
Aug 3 2011 | 2:13pm ET
Hedge funds' wretched summer continued in July, which the average fund dropping almost 1%, according to one benchmark.
The Credit Suisse Liquid Alternative Beta Index fell 0.95% on the month to cut it's year-to-date return to 2.46%. All four of the LAB strategy indices were also in the red.
"The Credit Suisse Liquid Alternative Beta Index, which aims to reflect the performance of the overall hedge fund industry, generated negative performance in July," Jordan Drachman, head of research for alternative beta strategies. "The long/short equity sectro saw the most significant declines, finishing down 1.69% as uncertainty regarding Greek debt and U.S. debt ceiling negotiations outshone a generally positive Q2 earnings season."
Still, "despite July losses, the strategy remains up 3.43% year-to-date."
The LAB event-driven index fell 1.11% (up 2.8% year-to-date), followed by merger arbitrage (down 0.75% in July, up 3.69% YTD) and global strategies (down 0.6%, up 2.1% YTD).
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…