A news release said that the top 25% of hedge funds gained an average of 2.90%, while the bottom 25% of hedge funds eked out a mere 0.39% for the month. Technology sector funds, the month’s top performing strategy, were up an average of 4.20% in July. By comparison, the S&P 500 was up 3.60% during the month.
Through July, according to the news release, the year-to-date average gain for hedge funds was 3.52%. The top 25% of hedge funds gained 6.67% since January 1, while the bottom 25% was up just 0.24% over the same period. The S&P 500 is up 1.84% since the beginning of the year.
Hedge funds included in these calculations were up 1.51% on average in June. The top 25% of hedge funds gained an average of 2.13% in June, while the bottom 25% was up an average of 0.49% during the same period.
HedgeFund.net-PerTrac Universes chart the roughly 4,900 hedge funds that report their performances to the Web site.