Cayman Compass – The average hedge fund recorded gains of 2.42 per cent in July data released by hedge fund data provider Hedge Fund Research shows. Hedge fund assets have increased on average by more than 12 per cent in the first seven months of this year. In July the increase was driven by higher equity market returns, Hedge Fund Research said.
July was the fifth month of consecutive gains for the industry, which lost a record 19 per cent overall in 2008. While the hedge fund industry currently experiences its best year since 1998, most fund manager have not yet recovered from last year’s losses and record redemptions in the final quarter of 2008.