Boston
Hedge funds in July reported their best monthly returns since the end of 2016, boosted by equity and event-driven strategies.
Funds on average gained 1.1 per cent, according to Hedge Fund Research Inc’s asset weighted composite index. Technology-focused equity funds had the best July of any sub-strategy tracked by HFR, returning 2.3 per cent.
The performance last month has pushed hedge fund returns in 2017 to 3.7 per cent, compared with 10 per cent for the S&P 500 Index. Amid the ongoing shift from active to passive investments, firms have struggled to attract investors and have only recently seen inflows return.
July marked a turnaround from the previous month, when hedge funds lost 0.24 per cent, weighed down by macro and event-based strategies.
