Hedge Fund Beta Index Rises 1.67% In July

Aug 2 2013 | 10:05am ET

Hedge funds posted broad gains in July, according to Credit Suisse's industry replication indices.

The Credit Suisse Liquid Alternative Beta Index rose 1.67% last month, a far cry from the Standard & Poor's 500 Index's nearly 5% surge. The index is now up 3.91% on the year.

Four of the suite's five strategies also posted gains in July, led by long/short, up 3.61% (4.61% year-to-date). Event-driven added 2.63% (5.42% YTD), merger arbitrage 1.24% (5.84% YTD) and global strategies 0.85% (3.2% YTD).

Only managed futures fell in July, shedding 1.2%. The strategy remains up 4.88% on the year.

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Editor's Note