China Hedge Funds up 4% In July, Previous Losses Wiped Out

China has caused great troubles for hedge funds, but since the last few months, it seems the tide has turned. July was a great period for investing vehicles in Greater China, where funds were up 4.1% on average, according to Eurekahedge’s August report. Last month’s return has wiped out the losses of the region, and the index is now up 2.9% for the year. The Asia ex-Japan index was up 2.87% in July, compared to the -.1% return on the general Eurekahedge index. Asian hedge funds have taken in performance-based gains of nearly $1.2 billion in July alone. Over the year, the net flow of…