Funds of Hedge Funds Performance

Emerging markets gain the most benefit from second-quarter rally


Emerging markets are the strongest sub-sector in the InvestHedge medians over the year to date, being particularly strong beneficiaries of the second-quarter rally. Year-to-date the median is up 8.14%.

FMG Rising 3 Fund was up 6.53% for July to bring year-to-date numbers to 30.81% and FMG Russia's 4.97% July return took six-month gains to 31.91%. Magnum Russia Fund was up 25.4% year-to-date after losing 4.78% in July and RMF Emerging Market Multi-Strategies was up 20.4% for 2009 after a 4.72% July gain.

One of the biggest funds in the sector, Permal Emerging Markets Holdings NV, has had a strong 2009