Global macro hedge funds rebound in July, some stock funds fall

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"Big hedge funds that bet on currencies and interest rates had their best July in years, according to figures obtained by Reuters, while the performance of stock-picking hedge fund managers was mixed due to market gyrations. The returns put most prominent macro-focused hedge funds into the black for the year, after losses in April and June, but they still lag their equities-focused rivals year-to-date, according to the figures. Among the biggest global macro hedge fund winners in July was Robert Citrone's Discovery Capital Management and Cantab Capital Partners Quantitative Fund, which gained 5.88 percent and 6.25 percent during the month, respectively. Winton Futures Fund, which manages about $12 billion, gained 4.4 percent in July, taking its year-to-date return to 2.4 percent, the data showed. And Ray Dalio's Bridgewater Associates' Pure Alpha fund gained 2 percent in July and is up 9 percent for the year. In general, global macro funds gained an average 2.3 percent after dipping 2.7 percent in June, HFR data showed." To read the full article (VIEW LINK)


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