Hedge funds as measured by the Greenwich Global Hedge Fund Index recouped losses experienced in June and moved higher in the month of July. Nearly all Greenwich hedge fund strategy group advanced during the month. The GGHFI gained 1.24% compared to global equity returns in the S&P 500 Total Return (+7.01%), MSCI World Equity (+8.01%), and FTSE 100 (+6.94%) equity indices. 69% of constituent funds in the GGHFI ended the month with gains.