The Emerging Markets Index’s 2.98% gain was enough to prop up the composite, now up 8.85% year-to-date. In July, the aggregate was up a scant 0.08%, according to data released by CSFB/Tremont Index.
Overall, results among the Index components were heavily tilted toward the gainers. After Emerging Markets, now up 17.07% YTD, was the Global Macro Index with a 1.3% gain (11.71% YTD). Among the other monthly winners:
- Event Driven Risk Arbitrage – 1.16%
- Managed Futures – 1.06%
- Long/Short Equity – 1.04%
- Event Driven Distressed – 1.02%
Conversely, once again Dedicated Short Bias and Convertible Arbitrage led the way down, off by 1.44% and 0.91%, respectively for the month. For the year, the results are mixed, with Convertible Arbitrage managing a 6.79% gain, compared to a 22.27% loss in the Dedicated Short Bias Index.
Performance for the CSFB/Tremont Hedge Fund Index and the ten style-based sector indices is calculated monthly. August, July and year-to-date returns for all categories are listed at www.hedgeindex.com.