Hedge Funds Add 1.15% In July

Aug 8 2013 | 12:17pm ET

Hedge funds posted gains last month, bouncing back from June's losses but badly trailing the broader markets.

The average hedge fund returned 1.15% in July, according to the Greenwich Global Hedge Fund Index. By comparison, the Standard & Poor's 500 Index rose more than 5% on the month.

The Greenwich index is up 4.22% on the year; the S&P 500 is up nearly 20%.

Most strategies tracked by Greenwich Alternative Investments posted gains in July, led by long/short equity funds, which rose an average of 2.1% (7.08% year-to-date). Multi-strategy funds added 1.19% (3.26% YTD), event-driven funds 1.14% (7.21% YTD), arbitrage funds 0.83% (4.13% YTD), macro funds 0.79% (3.03% YTD) and equity-market neutral funds 0.71% (2.45% YTD).

Long/short credit funds fell 0.48% on the month (up 1.4% YTD), while futures funds shed 0.26% (down 2.13% YTD).

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