Performance

Absolute Return Indices: Dire results for equities in July

by

Another tough month saw the Absolute Return Composite down 1.11% in July. Long/short technology equities outperformed other strategies with a 1.29% gain. By comparison, U.S. equities and global equities posted their worst monthly returns of the year, losing 2.29% and 2.98%, respectively. For the year, long/short U.S. equities have outperformed their global counterpart, down 2.14% vs. the world's -3.2%. JM


ABSOLUTE RETURN STRATEGY INDICES

Strategy

Jul 08

YTD 08

Arbitrage

0.56%

4.31%

Commodities

-0.97%

12.16%

Convertible & Equity Arbitrage

-1.79%

-2.51%

Credit

-0.48%

0.84%

CTAs

-1.50%

7.86%

Distressed

-1.86%

-3.87%

Event Driven

-0.88%

-1.49%

Fixed Income

-0.21%

4.69%

Global Equity

-2.98%

-3.20%

Latin American Debt

-0.39%

3.03%

Latin American Equity

-0.46%

0.80%

Macro

-2.24%

0.83%

Mortgage Backed

0.20%

3.43%

Multistrategy

-1.04%

0.59%

Technology

1.29%

-2.78%

U.S. Equity

-2.29%

-2.14%

Absolute Return Composite

-1.11%

0.66%




ABSOLUTE RETURN COMPOSITE INDEX


Source: Absolute Return