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August 11, 2003 at 08:00 PM
NEW YORK (HedgeWorld.com)–Hedge funds returned 0.34% in July, bringing year-to-date returns through July 31 to 6.32%, according Standard & Poor’s Hedge Fund Index.
Returns were hurt by negative performance from the S&P Directional/Tactical Index, which fell 0.07% in July, but was still up 6.78% in the first seven months of the year. The Directional/Tactical Index contains long/short equity hedge funds, global macro and futures funds. The S&P Managed Futures Index, a separate index, returned negative 2.75% in July and was up 4.39% in the year-to-date period through July.
The S&P Event-Driven Index performed decently in July with a return of 0.79%, resulting in strong year-to-date return of 10.38%. Meanwhile, the S&P Arbitrage Index returned 0.28% in July and 1.8% in the seven months through July.
