RenTech, Bridgewater Up In July, Tudor Down

Aug 8 2013 | 1:11pm ET

July was a mixed month for several prominent hedge funds, in spite of a rally in stock prices.

Renaissance Technologies' Institutional Equities Fund rose 1.8% last month, pushing the fund into double-digits for the year at 11%, Bloomberg News reports. Bridgewater Associates' Pure Alpha II did even better in July to reach a more modest milestone: The month's 3% gain pulled the fund out of the red; it was up 1.9% through the end of July and has added a further 1% this month already.

Tudor Investment Corp.'s BVI Global fund was not so lucky, shedding 2.8% on the month to cut its year-to-date gain to 8.9%.

The average hedge fund returned just 0.6% last month, a far cry from the Standard & Poor's 500 Index's 5% rise, the Bloomberg Hedge Fund Index shows. That benchmark is up just 3.2% on the year.

Long/short equity funds rose an average of 1.3% during last month's rally, according to Bloomberg, and are up 5.2% on the year. Macro funds fell 0.1% (down 2.3% year-to-date), while multistrategy funds dropped 1.3% (up 0.4% YTD).

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…