Hedge Funds Rise 1.59% In July

Aug 6 2009 | 1:02pm ET

Hedge funds kicked off the third quarter by returning to their winning ways, according to Hedge Fund Research.

The HFRX Global Hedge Fund Index, which was essentially flat in June, rose 1.59% last month. The July return pushed the index’s year-to-date return to 7.25%.

Nearly all of the strategies tracked by the HFRX indices were in the money last month, none more so than convertible arbitrage, which remained the strategy to beat for the year. Convertible arb funds rose an average of 6.73% last month, and are up 28.55% on the year. Multi-strategy relative value arbitrage, market directional and relative value arbitrage funds also posted big returns in June, rising 4.15% (21.05% year-to-date), 3.82% (16.92% YTD) and 3.67% (20.52% YTD), respectively.

Special situations funds added 1.82% (12.24% YTD), event-driven funds 1.53% (10.72% YTD), equity hedge funds 1.51% (7.57% YTD) and macro funds 0.07% (down 5.89% YTD).

Just four of the 18 substrategies and regional indices tracked by HFRX lost ground last month. Distressed securities funds fell 1.28% (down 9.82% YTD), systematic diversified funds lost 1.18% (down 10.5% YTD, the worst performer through the first seven months of the year), equity market-neutral funds sed 1.11% (down 4.55% YTD) and absolute return funds dropped 0.58% (down 3.13% YTD).


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of