Hedge funds and futures managers posted negative returns in July, although returns for the month were better than broad stock market indexes.
According to WPG-Hennessee Hedge Fund Group, a hedge fund consulting division of Weiss, Peck & Greer L.L.C., New York, hedge funds on average were down 2.25% in July, although pure short-selling hedge funds were up 11.15%.
U.S. hedge funds tracked by Van Hedge Fund Advisors, Nashville, Tenn., were down 1.4%.
Among futures managers, or commodity trading advisers, preliminary returns also were negative. CTAs reported an average return of -0.63%, according to the Managed Accounts Report, New York.
In the broad market, the Standard & Poor's 500 Stock Index was down 4.4% in July, and the Russell 2000 fell 8.7%.