With 1,053 funds reporting, the Barclay/GHS Hedge Fund Index is up 2.24 percent in July, and Barclay’s Fund of Funds Index gained 1.53 percent.
Managed futures did not fare as well, as the Barclay CTA Index dropped 0.53 percent. The Barclay BTOP50 Index, which measures the performance of the largest traders, lost 0.17 percent in July.
“Year to date, hedge funds have gained 4.33 percent, and fund of funds are up 2.32 percent.” says Sol Waksman, president of The Barclay Group. “Even though these returns are lower than some investors’ expectations, let’s not forget that they’re nearly double what we saw last year at this time, and 2004 was a decent year both on an absolute and a relative basis.”
Overall, 17 of the 18 hedge fund strategies tracked by Barclay were profitable in July. Equity Long Bias gained 3.41 percent, the Technology Index rose 3.12 percent, while Healthcare and Biotechnology was up 3.10 percent. Only Equity Short Bias was down, losing 1.65 percent.
In managed futures, five of the six Barclay CTA indices were down. Financials and Metals Traders lost 2.01 percent, erasing June gains. Discretionary Traders lost 0.66 percent, and Systematic Traders slid 0.38 percent. The Agricultural Traders Index held on to a 0.01 percent gain.