July proved to be another challenging month for UCITS funds, with the UCITS Alternative Index Global recording an incremental gain of 0.08 per cent.PARA_BREAK_SENTINEL_9f8e7d6c

July proved to be another challenging month for UCITS funds, with the UCITS Alternative Index Global recording an incremental gain of 0.08 per cent. This is an obvious improvement on June which saw the index fall 1 per cent but still leaves it down -0.76 per cent for the year. Along with the Fund of Funds Index, which finally enjoyed a positive month gaining 0.37 per cent, four out of 10 strategies finished in positive territory. The leading strategy was CTA, up 2.36 per cent as commodity prices rallied (e.g. sugar, silver futures). In what has largely been a range-bound market environment this year CTAs have been relatively performance-wise: the strategy remains -0.13 per cent YTD.