July’s Returns Positive for Hedge Funds

August 18, 2019 James Heinsman Economic Barometer


Hedge funds responded positively to the expectation that the Feds were going to cut interest rates, climbing by 0.69 percent in the Eurekahedge Hedge Fund Index. That brings year-to-date returns to 6.56 percent.


Approximately 70 percent of the companies making up the Eurekahedge Hedge Fund Index had gains in July, and about 27 percent of the managers in the database continued to have double-digit results from January to July in 2019.


The Eurekahedge North American Hedge Fund Index grew by 0.31 percent in July as a result of US equities peaking with record highs. North American fund managers using short/long strategies were up 10.41 percent year-to-date in July.


Artificial intelligence seems to have hindered fund managers using machine learning strategies, only posting 0.01 percent growth in July for the Eurekahedge AI Hedge Fund. Year-to-date results were a little better with 2.71 percent.


Although down in July, The Eurekahedge Crypto-Currency Fund Index performed better than Bitcoin, which dropped by 20.39 percent in July. The 10.79 percent decline for the Eurekahedge Index was an apparent blip in what was otherwise a great year so far for crypto currencies, which posted an overall 70.82 percent gain so far in 2019. Bitcoin gained 147.64 percent so far this year.

Eurekahedge Hedge Fund Index,

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