Hedge fund performance in July lagged behind the equity markets in July, according to the Hennessee Group, an advisor to hedge fund investors.
The Hennessee Hedge Fund Index, a measure of more than 1,000 funds tracked by the firm gained 1.91 percent in July, while the S&P 500 rose 6.88 percent, the Dow Jones Industrial Average was up 7.08 percent, and the NASDAQ climbed 6.90 percent. The Barclays Aggregate Bond Index increased 1.07 percent in July.
So far this year, the Hennessee Hedge Fund Index has gained 1.86 percent, while the Dow is up 0.36 percent, and the Barclays Aggregate Bond Index has advanced 6.46 percent for the year. The NASDAQ is down 0.64 percent and the S&P 500 is down 1.21 percent this year.