Hedge funds assets rose for the third consecutive month in July, according to research by Eurekahedge.

Hedge funds assets rose for the third consecutive month in July, according to research by Eurekahedge.

Hedge funds rose by 2.2 per cent in July and 12 per cent year-to-date. The Eurekahedge Hedge Fund Index is up 13 per cent since the start of 2007 while the S&P 500 is down 30 per cent over the period.

The Eurekahedge Fund of Funds Index rose by 1.46 per cent in July (5.61 per cent YTD), while the Eurekahedge (Long-only) Absolute Return Fund Index rose 6.67 per cent (30.17 per cent YTD) and the Eurekahedge Islamic Fund Index rose by 3.89 per cent (16.15 per cent YTD).

Of the regional indexes, the Eurekahedge Emerging Markets Hedge Fund Index was the best performer in July, rising 4.23 per cent and bringing YTD performance to 22.16 per cent.

The best performing strategy was event driven, up 4.65 per cent in July, followed by relative value (+3.47 per cent), and long/short equities (+3.15 per cent). CTA/managed futures fell 0.49 per cent in July and is down 0.05 per cent YTD.

The average performance fees for funds launched in 2009 (17.9 per cent) are down ten per cent as compared to those of funds launched last year.