Hedge Funds Slip Again

August 15, 2002 (PLANSPONSOR.com) - The CSFB/Tremont Hedge Fund Index fell by 1.35% in July 2002 , following up on June's 0.84% decline.

In comparison, over the month the S&P 500 fell 7.90% and the NASDAQ shed 9.22%. 

The month’s best performing strategy was Managed Futures, which jumped 6.12%.  Managers of this strategy invest in listed financial and commodity futures markets and currency markets around the world.

Dedicated short bias has been the year’s top performing strategy, boasting an impressive 14.08% hike for the year to date period.

Year to date, hedge funds are basically flat, having slipped just 0.03%, compared with a 20.6% decline for the S&P 500 and a 31.90% tumble for the NASDAQ.

The CSFB Tremont Hedge Fund Index comprises 391 funds and is constructed using the TASS database of over 2,600 hedge funds. In order to qualify for inclusion in the index selection universe, a fund must have $10 million under management, a 12-month track record, and an audited financial statement.