Friday, 1 July 2016
Last updated 6 hours ago
Aug 17 2009 | 2:56am ET
Hedge funds heated up along with the weather in July, according to RBC Capital Markets.
The average hedge fund is up 13.04% on the year, according to the RBC Hedge 250 Index, after last month’s estimated 2.1% jump. Convertible arbitrage funds once again led the way, rising 3.81% on the month. The strategy is now up an eye-popping 57.55% on the year.
Event-driven credit funds were the second-best performing strategy in July with a 3.11% jump (9.48% year-to-date), following by mergers and special situations (2.48% in July, 20.9% YTD) and fixed-income arbitrage (2.28%, 10.81% YTD).
Multi-strategy funds added 2.17% last month (8.48% YTD), equity long/short 2.12% (18.4% YTD), macro 1.46% (4.28% YTD), equity market-neutral 1.28% (2.51% YTD) and managed futures 0.73% (1.42% YTD).