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Credit Suisse/Tremont Hedge Fund Index up 2.54 per cent in July

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Final performance for the Credit Suisse/Tremont Hedge Fund Index has been confirmed up 2.54 per cent in July, bringing year-to-date performance to 9.90 per cent.

Final performance for the Credit Suisse/Tremont Hedge Fund Index has been confirmed up 2.54 per cent in July, bringing year-to-date performance to 9.90 per cent.

Oliver Schupp, president of Credit Suisse Index, says the last time hedge funds posted stronger year-to-date performance through July was in 1998.

Convertible arbitrage continues to lead all sectors in performance, returning 5.80 per cent in July and bringing year-to-date performance to 31.14 per cent.

‘As companies continue to look to the convertible market as a preferred source of financing, many managers believe the opportunity set in the space should remain strong,’ Schupp says.

Other notable sectors for the month include emerging markets, which finished up 3.83 per cent, as an increase in foreign investment inflows and appreciating currencies helped bolster performance in the space.

Positive performances were also achieved by equity market neutral (1.79 per cent), event driven (2.33 per cent), distressed (2.25 per cent), event driven multi-strategy (2.41 per cent), risk arbitrage (1.12 per cent), fixed income arbitrage (3.65 per cent), global macro (1.78 per cent), long/short equity (2.99 per cent) and multi-strategy (2.99 per cent).

Two sectors posted negative returns in July: dedicated short bias was down 7.26 per cent and managed futures was down 0.43 per cent.

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