WEST PALM BEACH, FL (www.hedgeco.net) – While hedge funds posted positive returns in July, new data from Credit Suisse First Boston\/Tremont shows that they lag the broad equity markets for the month.According to new data from CSFB\/Tremont, the average hedge fund gained 1.92 percent for the month of July, while the NASDAQ and Dow Jones Industrial Average gained 6.2 percent and 3.6 percentrespectively.<\/p>\n
However, July was a better month for the hedge fund industry as a whole, the industry posted negative returns for most of the first quarter of 2005. Hedge funds still outpaced the broader equity markets in the year-to-date category. The average hedge fund so far this year has gained 3.29 percent in 2005, compared to 0.4 percent and -1.3 percent for NASDAQ and Dow Jones Industrials respectively.<\/p>\n
Oliver Schupp, president of CSFB\/Tremont index said, “Driven by rallying global equity markets, Long\/Short Equity and Emerging Markets managers posted strong results in July.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd According to the new data released, the convertible arbitrage managers continue to gain strength following the credit problems of auto makers experienced earlier in the year.<\/p>\n
The broader CSFB\/Tremont investable hedge fund index gained 0.88 percent in July, pushing its year-to-date average to 1.10 percent.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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