Lipper: Long-Only Strats. Rule In July, But Short-Bias Up, Too

Aug 14 2009 | 11:34am ET

With the world’s stock markets rallying, it’s no surprise that long-only hedge funds were the strongest performer in July.

Lipper Global reports that long-only funds rose 4.75% last month, bringing their year-to-date gains to 14.34%. Such robust performance for the strategy might be expected, given that the Standard & Poor’s 500 Index soared more than 7% on the month. But, unlike just about every other set of hedge fund indices, Lipper’s numbers show that short-bias funds bucked the market rally to post positive performance in July.

In fact, short funds, which rose 0.4% in July, according to Lipper, weren’t even the worst-performing strategy of the month. That dubious distinction belongs to event-driven funds, which added 0.19%.

Options arbitrage funds rose 0.88% last month. Long/short equity funds and multi-strategy funds both returned 0.81% in July.


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