Hedge funds and futures managers posted negative returns in July, though returns were better than broad stock market indexes.
According to WPG-Hennessee Hedge Fund Group, a hedge fund consultant, hedge funds on average were down 2.25% in July, though pure short-selling hedge funds were up 11.15%. U.S. hedge funds tracked by Van Hedge Fund Advisors were down 1.4% in July, based on preliminary numbers.
Among futures managers, called commodity trading advisers, preliminary returns also were negative. CTAs reported an average return of -0.63%, according to Managed Accounts Report. Preliminary returns were -1.42% for CTAs tracked at Barclay Trading Group and -2.36% (without interest from investing underlying cash) for the Mount Lucas Management Index, which is used as a benchmark for futures managers.
In the broad market, the S&P 500 was down 4.4% in July, while the Russell 2000 dropped 8.7%