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Hedge fund gains trail S&P500 in July

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PivotalPath’s Composite Index, which tracks hedge funds of various strategies, rose 0.9% in July, way behind the 9% jump of the S&P 500 in July, according to a report by Reuters. Year-to-date though, hedge funds – as tracked by the index – are down 2.2% while the S&P500 is down more than 10 per cent. 

PivotalPath’s Composite Index, which tracks hedge funds of various strategies, rose 0.9% in July, way behind the 9% jump of the S&P 500 in July, according to a report by Reuters. Year-to-date though, hedge funds – as tracked by the index – are down 2.2% while the S&P500 is down more than 10%. 

The report cites PivotalPath’s latest hedge fund performance report as revealing that growth-focused hedge fund strategies made a comeback in July, with the company’s FAANG, Mobile Payments and Food Delivery baskets up between 15% and 19%.

The Technology, Media and Telecom sector remains the weakest equity subsector, with a performance of -19% so far in 2022.

In terms of top performance, PivotalPath’s data shows that Managed Futures and Global Macro strategies have led the way with returns of 12.9% and 9.3% respectively relative to the S&P 500 on a 12 month rolling period.

Both those strategies declined amid last month’s broader market rally though with Managed Futures losing 2.5% and Global Macro down 0.8%.
 

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