Hedge fund stats edge up in July

The Hedge Fund Research Inc. Fund Weighted Composite Index increased 0.49% in July and is up 7.99% year-to-date. The increase was led by a 7.53% increase in the Short Selling Index, reflecting the bearishness of many investors. The Asia, Emerging Markets and Global Indexes rose 6.09%, 3.83% and 3.80%, respectively. The Financial index took the greatest hit, falling 10.20% for the month, as the scope of the subprime collapse continues to widen. The Merger Arbitrage, Real Estate and Market Timing indexes rounded out the largest decliners, falling 2.04%, 1.7% and 1.41%, respectively.