Hedge fund performance softened slightly in July after a strong first half, though the majority of funds remained in positive territory, according to the latest data from Citco, the asset servicer with more than $2tn in assets under administration.
Funds administered by Citco delivered an overall weighted average return of 0.5% for the month, with 55.9% of managers posting gains.
Event-driven strategies led the pack with a 2.7% return, while fixed income arbitrage and global macro strategies also performed strongly, returning 1.4% and 1.3% respectively. By contrast, commodity funds lagged with a -1.7% loss, while equities posted muted gains of 0.6%.
On an AUA basis, most fund size categories were positive, apart from those managing $200m–$500m, which slipped -0.1%.
Capital flows were robust, with $16.4bn of subscriptions and $6.1bn of redemptions, generating $10.3bn in net inflows. All regions saw positive flows, led by Europe ($5.1bn), followed by the Americas ($4.8bn) and Asia ($0.4bn).
