The Credit Suisse Liquid Alternative Beta Index was up 0.96 per cent in July, according to Jordan Drachman, head of research for alternative beta strategies at Credit Suisse.

Drachman says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, finished up 0.96 per cent in July.

“The managed futures strategy was the most significant contributor to performance, finishing up 1.32 per cent for the month.

“The event driven strategy was the second-highest contributor to performance, finishing up 1.16 per cent for the month, and bringing performance to 5.92 per cent year-to-date."