PerTrac: Hedge Funds 0.65% Lower in July

August 18, 2004 ( - Hedge funds posted an average 0.65% loss in July.

The top 25% ofhedge funds gained an average 0.58%, while the bottom 25% of hedge funds lostan average 1.57% for the month.  Short Bias sector funds, the month’s topperforming strategy, were up an average of 4.31%, according to the Universes.

Other winning strategies in July included Fixed income (non-arbitrage) (1.04%) and Fixed income (arbitrage) (0.74%).   Technology sector funds were July’s worst performing strategy, down 6.27%.   Other losing strategies in July were Long/Short equity (-1.32%) and Value (-1.15%).

Through July, the year-to-date average gain for hedge funds was 1.43%. Thetop 25% of hedge funds gained 4.32% year-to-date, while the bottom 25% lost anaverage 1.71%. 

In June, hedge funds gained an average 0.27%, with the top 25% of hedgefunds gaining an average of 1.19% and the bottom 25% losing an average 0.44%.

By comparison, the S&P 500was down 3.43% in July.   Year-to-date t he S&P 500 has gained 0.92%.