Hedge funds gained for the fifth consecutive month in July, up 1.52% while underlying markets, as represented by the MSCI AC World Index (Local) gained 4.18%. Roughly 73% of the underlying constituent hedge funds for the Eurekahedge Hedge Fund Index were in positive territory this month thanks to a broad-based rally in global equity markets and an improving investor risk appetite post-Brexit. Markets were a little perturbed by a series of central bank meetings. Bund yield barely moved after the ECB meeting left current measures unchanged, signalling that investors are still anticipating another round of ECB stimulus in the coming...