Hedge funds lost 1.01% in July, close to the S&P 500 index’s -.98% return but outpacing the Nasdaq’s 6.21% decline, according to the Hennessee Hedge Fund Indices.
Dragging down performance was a -8.38% return for the Latin American index and a -4.23% return for the health-care and biotech index. On the upside, the short-biased index returned 3.48% and the financial equities index was up 2.56%. Year-to-date, financial equities are the best-performing index, up 15.51%, while the value index returned 10.05%.
