The HFRI Fund Weighted Composite index fell 0.62% in July, compared to a 2% drop in the Russell 3000, a 0.9% fall in the MSCI ACWI ex-U.S. and -0.2% return for the Barclays Intermediate U.S. Government/Credit index.
The only main subindex in HFR's hedge fund index universe to post a gain in the month was the emerging markets index, which gained 0.85% in the month, vs. a 2% gain in the MSCI Emerging Markets index.
Through the first seven months of 2014, the HFR's relative value index posted the highest return by strategy at 4.66%; driven by returns in the fixed-income asset-backed and yield alternatives subindexes.
The event-driven index was up 3.91% year-to-date, driven by distressed/restructuring and credit arbitrage fund returns.
