Despite hedge funds that have received returns on investments in commodities and emerging-market stocks, the hedge fund industry, as a whole, is set to turn in their worst monthly performance since July 2002.
Hedge funds are still outperforming the broader market, but opening data from
The S&P 500 index suffered only a 1% fall for the month of July, but is down 14% for the year.
Some funds started the month above others, yet ended the month in the red, such as Jana Partners LLCs flagship fund. It started July up more than 4% for the year yet fell 9% as the price of energy stocks and others fell.
The fund is now down almost 6% for the year.
It was a comeuppance month for hedge funds, Jay Krieger, who runs Fundamental LP, told The Wall Street Journal.
Other funds in
