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Tech selloff cuts hedge fund gains in July, industry still higher
The pullback removed nearly three percentage points of performance for global hedge funds during July, but gains remain positive for the year.
A sharp reversal in technology stocks weighed on global hedge funds in July, according to analysis cited by Hedgeweek.
The report said hedge funds surrendered almost three percentage points of performance across multiple strategies as tech weakness flowed through portfolios.
Despite the monthly decline, the overall hedge fund industry is still up around 8% for the year, based on the cited JPMorgan analysis.
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