{"id":17161,"date":"2010-08-10T08:05:27","date_gmt":"2010-08-10T12:05:27","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=17161"},"modified":"2010-08-10T08:05:27","modified_gmt":"2010-08-10T12:05:27","slug":"hennessee-hedge-fund-advance-1-91-in-july","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2010\/hennessee-hedge-fund-advance-1-91-in-july.html","title":{"rendered":"Hennessee: Hedge Fund Advance +1.91% In July"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/Picture-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-17162\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/Picture-1.png\" alt=\"\" width=\"211\" height=\"71\" \/><\/a>New York (HedgeCo.net) &#8211; Hedge funds that invest in distressed assets rebounded and posted  increases in July after two straight months of declines, according to Hennessee Group. The Hennessee Hedge Fund Index advanced +1.91% in July (+1.86% YTD), while the S&amp;P 500 increased +6.88% (-1.21% YTD), the Dow Jones Industrial Average climbed +7.08% (+0.36%), and the NASDAQ Composite Index advanced +6.90% (-0.64% YTD).  Bonds advanced, as the Barclays Aggregate Bond Index increased +1.07% (+6.46% YTD).<\/p>\n<p>\u201cHedge fund managers lagged the broader markets due to defensive portfolio positioning. Managers began July with lower than average exposures after significantly reducing gross and net exposure levels during May and June. As a result, hedge funds lagged as equity markets rose sharply,\u201d said Lee Hennessee, Managing Principal of Hennessee Group. \u201cOn a positive note, we are encouraged to see that performance was partially driven by stock selection, rather than only directional market exposure.  Stocks started to respond more to fundamentals as quarterly earnings were reported, a constructive development for hedge funds.\u201d<\/p>\n<p>\u201cThe economy is at an inflection point.  Leading economic indicators are peaking with no real improvement in employment,\u201d commented Charles Gradante, Co-Founder of Hennessee Group. \u201cA double dip recession remains a possibility, but most managers feel that it is more likely that the U.S. economy experiences an extended period of slow growth due to weak consumption, withdrawal of fiscal stimulus and continued deleveraging.  Several have referred to this as the \u2018New Normal\u2019.  This would likely lead to financial markets being range bound, which should be a somewhat favorable environment for stock selection and for hedge funds.\u201d<\/p>\n<p>Editing by Alex Akesson<br \/>\nFor <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; Hedge funds that invest in distressed assets rebounded and posted increases in July after two straight months of declines, according to Hennessee Group. The Hennessee Hedge Fund Index advanced +1.91% in July (+1.86% YTD), while the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[919,3],"tags":[],"class_list":["post-17161","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-research","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=17161"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17161\/revisions"}],"predecessor-version":[{"id":17163,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17161\/revisions\/17163"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=17161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=17161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=17161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}