Hedge fund performance in July lagged behind the equity markets in July, according to the Hennessee Group, an advisor to hedge fund investors.

The Hennessee Hedge Fund Index, a measure of more than 1,000 funds tracked by the firm gained 1.91% in July, while the S&P 500 rose 6.88%, the Dow Jones Industrial Average was up 7.08%, and the NASDAQ climbed 6.90%. The Barclays Aggregate Bond Index increased 1.07% in July.

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