Hedge Fund Performance Commentary

The Eurekahedge Hedge Fund Index gained 1.3% in July, recording its highest monthly return since April 2021 after three consecutive months of decline, totaling 4.1% in Q2. The recovery was bolstered by the revival of the global equity market, reflected in the 9.1% rebound of the S&P 500. The Federal Reserve raised interest rates by another 75bps in July to combat persistent high inflation, which accelerated to 9.1% in June 2022, the highest since November 1981. However, a slower pace of rises is likely in the mid-term as US GDP contracted 0.9% in Q2, following a 1.6% contraction in Q1, putting the country into a recession.

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