Hedge funds gained 1.99 per cent in July, according to the Barclay Hedge Fund Index compiled by BarclayHedge.
Year to date, the index is up 2.66 per cent.
“The confluence of post-Brexit central bank accommodation, positive Q2 earnings, and signs of a strengthening US economy supported global equity markets and created favourable conditions for all hedge fund strategies,” says Sol Waksman (pictured), founder and president of BarclayHedge.
All of Barclay’s 17 hedge fund indices had gains in July. The Healthcare and Biotechnology Index gained 3.97 per cent, Equity Long Bias was up 3.05 per cent, Distressed Securities gained 3.02 per cent, Emerging Markets were up 2.58 per cent, and the Technology Index added 2.13 per cent.
After losing more than 12 per cent in January and February, Healthcare and Biotechnology has rebounded with gains in three of the last four months.
At the end of July, 11 of Barclay’s hedge fund indices have positive returns in 2016, while six have losses.
Emerging Markets are up 6.76 per cent year to date, the Event Driven Index has gained 6.22 per cent, Distressed Securities are up 5.56 per cent, the Convertible Arbitrage Index has gained 2.83 per cent, Merger Arbitrage is up 2.83 per cent, and the Multi Strategy Index has gained 2.48 per cent.
In the loss column, European Equities are down 5.91 per cent for the year, the Healthcare and Biotechnology Index has lost 4.93 per cent, Pacific Rim Equities are down 2.63 per cent, and the Equity Market Neutral Index has lost 0.74 per cent.
The Barclay Fund of Funds Index gained 1.30 per cent in July, but is still down 1.99 per cent year to date.
