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Alternative Market Briefing

Hedge funds rebound in July, led by Equity Long/Short funds - Citi Prime Finance

Thursday, August 29, 2013

Bailey McCann, Opalesque New York:

Hedge fund strategies across the board rebounded in July after a major sell off in June, according to the latest data from Citi Prime Finance. Citi aggregates information across multiple industry-leading data sets to create its hedge fund monitor, providing the largest, single consolidated view of fund information possible across all of the leading industry data providers. This view is supplemented with proprietary Citi data deemed important to the hedge fund community.

According to the report, composite hedge fund performance, equal-weighted across funds, was up in July, with performance ranging from +1.01% to +1.40%. Across the major hedge fund indices returns were higher than the previous month which experienced -1.42% to -1.33% over the same period.

Equity Long/Short funds led the pack at +2.43%, Distressed +1.83%, Event Driven +1.52% and Equity Market Neutral at +1.27%. The lowest performing strategies include Dedicated Short -3.37%, CTA/Managed Futures -0.89%, and Fixed Income Arbitrage at -3.37%.

Net positive investor flows of +$13.5bn for July, marked the fifth period of net positive flows year to date.

In the equities markets, the July rebound was led by small cap, biotechnology, healthcare and financials companies. European markets saw gains in France, Italy, the Netherlands, Spain and Sweden. Asian markets saw declines in volatility, and a sharp drop in the rupee, leaving Hong Kong and Australia to hol......................

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