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Investing August 18, 2004
PerTrac: Hedge Funds 0.65% Lower in July
August 18, 2004 (PLANSPONSOR.com) - Hedge funds
posted an average 0.65% loss in July.
Reported by Eric Hazard
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 HedgeFund.net-PerTrac 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%.