Hedge funds see ninth consecutive month of gains

Hedge-fundThe hedge fund industry produced its ninth consecutive month of aggregate gains in July, according to a report.

The eVestment hedge fund industry report for July, published this week, concluded that hedge funds returned an average 1.21% in July 2017, bringing year-to-date (YTD) returns to 4.77%.

But the difference between average gains and average losses was relatively narrow during the month, the report found.

Event-driven activist funds were top performers among primary strategies, returning 1.67% in July, bringing YTD returns to 7.29%.

Among primary markets, equity-focused funds were also strong performers, returning 1.66% in July and 7.28% YTD.

India-focused funds continued to lead in returns, putting up 4.96% in July and bringing YTD returns to 24.90%.

China-focused funds were also leaders, returning 4.84% in July, for YTD returns of 21.43%.

Brazil-focused funds also saw a strong July, returning 7.32%, boosting the lacklustre 1.66% the funds returned over the past three months and boosting YTD returns to 11.21%. Brazil-focused funds were among the strongest performers in 2016, following dismal 2015 returns.

In spite of a positive month for hedge funds, there were still a few losers: funds primarily focused on the foreign exchange /currency space were down -0.53% in July and funds with primary strategies in the origination and financing space were down -0.16% for the month.

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