The Dow Jones Credit Suisse Hedge Fund Index finished up 0.69% in July compared to a loss of more than 2% for the Dow Jones Industrial Average Total Return Index.
Six out of ten strategies posted positive performance for the month. Conversely, the Dow Jones Industrial Average Total Return and Dow Jones Global Indexes fell 2.05 and 1.66% respectively;
Managed Futures was the best performing sector in July. The strategy gained 4.03% as managers capitalised on momentum in the short-term-rates and bond markets.
The Long/Short Equity sector continued to experience negative performance as market reaction to macro events overshadowed the Q2 earnings season.
Global Macro managers posted positive performance in July, up 2.53%, as a number of previously unprofitable themes across fixed income and commodity markets changed direction.