Hedge funds record best performance in four months
The Dow Jones Credit Suisse Hedge Fund Index gained 1.59 per cent in July, its best performance in four months, leaving it up 2.22 per cent so far in 2010.
Credit Suisse Index president Oliver Schupp said that eight out of 10 sectors posted positive performances for the month.
Among the top performers for the month were emerging markets, up 3.52 per cent, and long/short equity, which was up 2.53 per cent. Both strategies benefited from beta-driven opportunities amid global equity market rallies, Schupp said.
“Dedicated short and managed futures were the only two sectors with negative performance this month, finishing down 3.52 per cent and 1.50 per cent respectively,” he said.
The Index lost 0.84 per cent in June with five out of 10 sectors losing ground. Although the Index is ahead in 2010 four sectors are currently in the red, with dedicated short bias currently down more than 6 per cent for the year.
On 12-month figures the Index is up 10.29 per cent due to a strong finish to 2009, even though dedicated short bias has lost 15 per cent in the period.
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