Hedge Funds Down 0.95% In July

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).


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

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

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...