Final performance for the Credit Suisse/Tremont Hedge Fund Index (Broad Index) is confirmed up 2.54% in July, according to Oliver Schupp, President of Credit Suisse Index Co., Inc.
The last time hedge funds posted stronger year-to-date performance through July was 1998. The Credit Suisse/Tremont Hedge Fund Index is up 9.90% year to date and Convertible Arbitrage continues to lead all sectors in performance; the strategy returned 5.80% in July, bringing year-to-date performance to 31.14%. As companies continue to look to the convertible market as a preferred source of financing, many managers believe the opportunity set in the space should remain strong, says Schupp.
Other notable sectors for the month include Emerging Markets, which finished up 3.83%, as an increase in foreign investment inflows and appreciating currencies helped bolster performance in the space.
L.D.