Hedge funds delivered an average of 2.5% in July and are up 9.9% year-to-date, the best performance in 11 years, according to the Credit Suisse/Tremont Hedge Fund Index.
The best-performing category was convertible arbitrage, up 5.8% in July and 31% year to date. The worst-performing category was hedge funds that short the market, down 7.3% in July and down 1.4% in the first seven months of the year.
Last week,