Opalesque - Eurekahedge: Hedge funds return 0.44% (est.) in July (0.78% YTD), saw $25bn inflows and $20.7bn outflows

The report also contains a look at the most up-to-date data numbers for July in our regular performance and asset flows sections.

• The hedge fund industry saw US$25 billion inflows and US$20.7 billion outflows during July
• All regions outperformed underlying markets for the third consecutive month
• Hedge funds outperformed global markets by 3.03% in July and remained ahead by 2.35% YTD
• CTA/managed futures funds posted gains of 1.87%
• 52.5% of global hedge funds were above their 2007 high-watermarks
• July was the eighth consecutive month of net inflows with US$4.3 billion coming into the sector
• Assets in multi-strategy hedge funds crossed US$300 billion to reach record highs
• Assets in macro hedge funds reached a historical high of US$125.3 billion

Main Indices	July 2011*	2011 Returns	2010 Returns
Eurekahedge Hedge Fund Index	0.44	0.78	10.84
Eurekahedge Fund of Funds Index	0.33	-0.44	4.54
Eurekahedge (Long-Only) Absolute Return Fund Index	-0.29	-1.36	15.82
Eurekahedge Islamic Fund Index	-0.34	0.71	9.43

Regional Indices	July 2011*	2011 Returns	2010 Returns
Eurekahedge North American Hedge Fund Index	0.22	2.47	13.68
Eurekahedge European Hedge Fund Index	-0.62	-0.33	9.16
Eurekahedge Eastern Europe & Russia Hedge Fund Index	1.22	2.52	16.56
Eurekahedge Japan Hedge Fund Index	0.52	1.48	8.21
Eurekahedge Emerging Markets Hedge Fund Index	0.47	1.43	10.56
Eurekahedge Asia ex-Japan Hedge Fund Index	1.11	0.19	10.17
Eurekahedge Latin American Hedge Fund Index	-0.63	2.51	9.79

Strategy Indices	July 2011*	2011 Returns	2010 Returns
Eurekahedge Arbitrage Hedge Fund Index	-0.05	2.64	9.47
Eurekahedge CTA/Managed Futures Hedge Fund Index	1.87	-1.18	12.09
Eurekahedge Distressed Debt Hedge Fund Index	-0.18	4.70	22.69
Eurekahedge Event Driven Hedge Fund Index	-0.13	0.61	15.24
Eurekahedge Fixed Income Hedge Fund Index	0.41	3.43	10.31
Eurekahedge Long/Short Equities Hedge Fund Index	0.04	0.64	10.29
Eurekahedge Macro Hedge Fund Index	0.93	0.26	7.66
Eurekahedge Multi-Strategy Hedge Fund Index	0.30	1.33	9.61
Eurekahedge Relative Value Hedge Fund Index	-0.54	1.76	11.39

Global Hedge Fund Indices by Fund Size	July 2011*	2011 Returns	2010 Returns
Eurekahedge Small Hedge Fund Index ( < US$100m )	0.42	0.47	10.75
Eurekahedge Medium Hedge Fund Index ( US$100m - US$500m )	0.42	1.35	11.26
Eurekahedge Large Hedge Fund Index ( > US$500m )	0.55	1.43	10.77

* Based on 82.02% of funds which have reported July 2011 as at 23 August 2011.