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Hedge Funds Hold Their Ground in July – BarclayHedge
Although there have been declines in the equity markets, hedge
funds as a whole held their ground in July, says
BarclayHedge, which reported a 0.01 per cent fall in the
Barclay Hedge Fund Index, although year-to-date the index is up
1.06 per cent.
“Declines across equity markets in Europe and the US were driven largely by a lack of political will to address the fundamental long term sovereign debt problems on both sides of the Atlantic. In spite of wide-spread economic ‘disease’, hedge funds on average were able to break even for the month,” said Sol Waksman, founder and president of BarclayHedge.
Of the 18 hedge fund indices 10 had gains, with the Barclay Equity Short Bias Index jumping 2.45 per cent and Pacific Rim Equities rising 0.62 per cent. The Global Macro Index was up 0.58 per cent and Fixed Income Arbitrage gained 0.43 per cent.
On the other hand, the European Equities Index dropped 1.33 per cent, technology slid 0.76 per cent, Equity Long Bias fell 0.71 per cent, and the Convertible Arbitrage Index lost 0.52 per cent.
Meanwhile, the Barclay Fund of Funds Index gained 0.27 per cent in July, but lost 0.35 per cent year-to-date.
BarclayHedge tracks around 6,000 hedge funds, funds of hedge funds and managed futures strategies.
