Powerful equities market rally solidifies gains


A strong rally in the equities markets that lifted the S&P 500 up 3.72% and the Nasdaq up 6.22% for the month of July also powered gains for most major long/short funds. While short-biased funds, broadly speaking, have outperformed long/short portfolios for the year, they naturally posted losses in July as the broad stock markets rose.

The Absolute Return U.S. Equities index gained 2.55% for July, bringing its year-to-date total to 4.49%. The Global Equity index - this year's best performing strategy, thanks in part to strong traction in European equities - added 3.02% for the month for a