Hedge Funds Add 1.05% In July

Aug 7 2012 | 2:58pm ET

Hedge funds gained 1.05% in July bringing their year-to-date returns to 2.88%, according to the HFRI Fund Weighted Composite Index.

Most strategies ended the month in the black, with the exceptions of equity hedge technology/healthcare funds (down 0.42%), and event driven private issue/Regulation D strategies (down 0.73%).

The strongest equity hedge performers in July were energy/basic materials funds (up 2.06%) and short bias funds (up 2.95%). Among event driven funds, the best performers were distressed/restructuring funds (up 0.85%) while the best-performing macro strategies were systematic diversified funds (up 2.77% on the month). In the relative value category, yield alternatives funds added 2.47%, followed by fixed income-asset backed, with a 2.32% gain.

All regional indices ended July with gains, led by Russia/Eastern Europe funds, which added 2.51%.

HFR says investors allocated $4.1 billion in net new capital to hedge funds in Q2 2012, bringing net inflows in the first half of this year to over $20 billion. Despite that, total hedge fund capital ebbed to $2.10 trillion in Q2 from a record $2.13 trillion in Q1, due to the 2.7% loss posted by hedge funds in the second quarter.

Investors in Q2 2012 continued to prefer large funds and fixed income-based relative value arbitrage strategies, particularly RVA multi-strategy funds.

 

 


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