Hedge Funds gained 1.11 per cent in July according to the Barclay Hedge Fund Index compiled by BarclayHedge. The index has risen every month this year and is up a cumulative 5.48 per cent for 2017.
“July was another winning month for the hedge fund industry as the S&P 500 and the NASDAQ both rose to new all-time highs,” says Sol Waksman (pictured), founder and president of BarclayHedge. “Market conditions have been ideal for steady gains across all market segments.”
Emerging Markets continued their recent strong run and led all sectors with a gain of 2.65 per cent in July. Pacific Rim Equities posted their best performance of the year with a gain of 2.12 per cent and Technology, which is the top performer for the year to date, was up 1.72 per cent.
Overall, 16 of 17 subindices showed gains in July with only European Equities down a scant 0.22 per cent. Equity Market Neutral, Convertible Arbitrage, Merger Arbitrage, and Multi Strategy were all positive for the month but showed gains of less than 0.5 per cent.
For the year, all subindices are now on positive ground. The top performers are Technology at 13.22 per cent, Healthcare & Biotechnology with a 12.57 per cent gain, and Emerging Markets up 10.96 per cent (see above) while laggers are Equity Market Neutral at 0.92 per cent, Global Macro at 0.94 per cent and Distressed Securities at 1.80 per cent.
“July was more of the same for the hedge fund industry,” says Waksman. “The same sectors continue to lead and returns were positive, but not spectacular. All in all, 2017 has been a good year for hedge funds and investor interest seems to be on the rise again.”
