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Dow Jones Credit Suisse Hedge Fund Index posts estimated positive performance of +1.67% (est) in July (+2.32% YTD)

Monday, August 09, 2010
Opalesque Industry Update - Early estimates indicate the Dow Jones Credit Suisse Hedge Fund Index (“Broad Index”) will post positive performance of 1.67% in July (based on 76% of the assets of hedge funds that are index components reporting).

Key highlights for the month:
- Hedge funds rebounded along with overall markets in July, as the Dow Jones Credit Suisse Hedge Fund Index was up 1.67%, bringing year to date performance to 2.32%.

- Long/Short Equity hedge funds experienced a positive month, gaining 2.82% as directional net-long managers performed positively in the beta-driven environment which was boosted by positive second quarter corporate earnings reports and upbeat sentiment following Eurozone banks stress test results.

- Global Macro hedge fund managers struggled early in the month but recovered in the second half to finish the month up 0.66% as managers capitalized on FX movements and benefited from positive commodities performance, particularly in wheat, coffee and industrial metals.

- Managed Futures finished down 1.49% as many trend followers were caught with long positions in US dollars, gold or short wheat.



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