SINGAPORE, Aug 11 (Reuters) - Hedge funds focusing on Asia ex-Japan posted the strongest gains by region in July, but the funds remained in the red compared with the start of 2010, Eurekahedge said late on Tuesday.
According to preliminary data from the Singapore-based fund tracker, Asia ex-Japan hedge funds returned 3.56 percent in July, beating the 3.19 percent returns by Eastern European and Russian hedge funds and the 2.36 percent returns by Latin American funds.
The Asia ex-Japan funds were, however, down 0.14 percent from the start of the year -- the only region to show a negative return for 2010.
Eurekahedge said India funds were the best performers so far this year, returning 4.62 percent as of end-July.
In terms of strategy, event-driven hedge funds showed the highest return of 2.67 percent in July, raising returns since the start of 2010 to 4.66 percent.
Among developed regions, funds invested in North America performed best in July with a gain of 1.54 percent.
Eurekahedge publishes a series of indices on a monthly basis, measuring the returns of hedge funds by region and investment strategy.
Reporting by Kevin Lim; Editing by Dhara Ranasinghe
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