Hedge funds got on track in July, rising almost 1% after a disappointing second-quarter, according to a hedge fund replication index.
The average hedge fund rose 0.96% in July, according to the Credit Suisse Liquid Alternative Beta Index. The same benchmark, however, suggested an optimistic 1.4% return for the industry in June.
The LAB index is now up 1.93% on the year, with all five of its strategy indices posting gains last month. Managed futures rose 1.32% (down 3.93% YTD), event-driven 1.16% (5.92% YTD), global strategies 0.99% (0.32% YTD), long/short 0.57% (1.77% YTD) and merger arbitrage 0.44% (down 2.07% YTD).