Hedge Funds near Flat in July; Index Returned -0.20% in July; +5.63% YTD.

GREENWICH, Conn. -- The Greenwich-Van Global Hedge Fund Index returned -0.20% in July (+5.63% YTD), according to hedge fund index provider Greenwich-Van Advisors. In comparison, the S&P 500, MSCI World Equity Index, Nikkei 225 and the Lehman Brothers Aggregate Bond Index returned +0.62% (3.34% YTD), +0.53% (+5.50% YTD), -0.31% (-4.06% YTD) and +1.35% (+0.62% YTD), respectively in July.

"The Specialty Strategies Group, comprised of emerging markets, income and multi-strategy hedge fund strategies returned +0.57% in July and continues to be the top performer (+7.94% YTD)," noted Wade McKnight, Greenwich-Van Vice President. "The Market Neutral Group yielded +0.28% (+6.43% YTD); the Long/Short Equity Group returned -0.06% (+5.42% YTD) and the Directional Trading Group, comprised of futures, market timing and macro-oriented hedge fund strategies, returned -2.22% (+2.07% YTD). All strategies and sub strategies within the Greenwich-Van Index still remain positive year-to-date in spite of the recently challenging market environment."

The July Index included 823 funds. Final Index results will be posted at www.greenwich-van.com the end of August after additional funds have submitted returns.

Greenwich-Van Investable Index

The Greenwich-Van Investable Hedge Fund Index returned +0.20% in July (+4.16% YTD) and is reported monthly net of a 0.04% Index calculation fee. The Investable Index, comprised of 51 funds, adds investability, active management and liquidity to the diversification and performance benefits of the broad Greenwich-Van Global Hedge Fund Index. Since its inception, January 2003, the Investable Index achieved an annualized return of 10.10% versus 11.24% for the Greenwich-Van Global Hedge Fund Index. Its correlation of 0.95 and Beta of 0.90 to the Greenwich-Van Global Hedge Fund Index further demonstrate the Investable Index's ability to track the hedge fund universe.

Greenwich-Van Advisors, LLC manages one of the world's largest hedge fund databases and is among the oldest providers of hedge fund indices and research to institutional investors worldwide.

Accuracy of compiled information reported by managers is not audited or independently verified and may not represent all hedge funds. Greenwich-Van does not necessarily perform due diligence on reporting managers. Hedge fund returns are net of underlying fees and performance allocations. Averages are equally weighted. Past performance and index construction rules may be viewed at www.greenwich-van.com.