Hedge funds lost 0.28 per cent in July, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 3.05 per cent year to date.
“July was a difficult month for hedge fund managers. The first half was dominated by Grexit fears and the equity sell-off in China. The theme of the second half of the month was recovery from the first half,” says Sol Waksman (pictured), founder and president of BarclayHedge.
Despite the overall loss, 11 of Barclay’s 18 hedge fund indices had gains in July. The Global Macro Index rebounded from a 2.08 per cent June loss with a 3.52 per cent July gain. European Equities were up 1.49 per cent, Healthcare & Biotechnology gained 1.11 per cent, and Equity Market Neutral added 0.52 per cent.
“Marco funds benefitted from resurgent strength in the US Dollar and continued weakness in commodities,” says Waksman.
Seven hedge fund indices had losses in July. The Emerging Markets Index was down 3.59 per cent, following a 2.18 per cent loss in June. The Event Driven Index gave up 1.61 per cent, Equity Short Bias was down 0.85 per cent, and Distressed Securities lost 0.78 per cent.
At the end of July, 16 of 18 Barclay indices are in positive territory. Healthcare & Biotechnology Index has gained 14.19 per cent, Pacific Rim Equities are up 6.92 per cent, the European Equites Index has gained 5.11 per cent, Merger Arbitrage is up 5.04 per cent, and Technology has gained 4.84 per cent.
The Barclay Fund of Funds Index gained 0.32 per cent in July, and is up 3.03 per cent in 2015.
