Hedge funds gain 0.48% in July

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July was a broadly positive month for hedge funds, with the Global Composite Index rising 0.48%.

Equity funds fell 0.29% in July, making them the worst global performers of the month. July was the third consecutive down month for equity funds, their longest sustained decline since 2008, when they fell from June through November.

Macro funds were the best performers globally, returning 2.19% for the month, the best performance for this strategy since October 2007 when macro funds rose 2.35%.

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