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Thursday, September 21, 2023

Hedge funds in July: Event-driven, multi-strat advance

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By Will Wainewright
The outlook for Microsoft’s $69bn Activision acquisition improved, boosting the event picture. (Photo by Turag Photography on Unsplash)

Hedge funds advanced in July with notable gains in event-driven, though this year’s ongoing equity market rally caught out some long/short equity funds.

The average fund across all strategies made 1.5% last month and is now up 5% for the year, according to the HFRI Fund Weighted Composite Index.

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