AI hedge funds down, cryptocurrency hedge funds up in July

Preliminary numbers show that AI hedge funds are on track to post a fourth consecutive month of losses, with the Eurekahedge AI Hedge Fund Index down 0.09% in July. This loss brought their year-to-date return down to -2.64%, placing them behind all of the primary strategic mandates. Eurekahedge tracks 13 actively reporting funds using AI and machine learning theory in their trading process, whether that’s partial or “pure” AI.

The Eurekahedge Crypto-Currency Hedge Fund Index, which tracks 14 hedge funds investing in crypto assets, was up 1.65% in July, supported by the recovery of some major crypto-currencies such as Bitcoin and Ethereum. On a year-to-date basis, crypto-currency hedge fund managers were still down 40.44%, narrowly outperforming the Bitcoin price index which declined 44.25% over the same period.

Index Flash Strategy Return Map; Source: Eurekahedge

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